Queensland the engineroom of Australia’s economic growth

They always say that “It’s the economy stupid!”

One the Queensland economy Paul Syvret in The Courier Mail 8th March 2012 reports that Queensland has re-emerged as the engineroom of Australia’s economic growth with the latest national accounts figures illustrating we have not so much a two-speed economy as a two-speed Australia.

For the December quarter 2011 Queensland’s rapidly expanding economy added the bulk of the entire nation’s economic expansion contributing 0.3% to Australia’s Gross Domestic Product growth of 0.4%.

Queensland’s economy grew at a pace more often associated with Asia’s so-called miracle economies with State Final Demand expanding 10% for the full year (compared with 2.0% for NSW and 1.6% for Victoria).

Business investment in Queensland increased a staggering 134% in 2011.