Budget Paper 1994-95 No.6 Northern Territory Economy
Tabled Paper 2156
Tabled Papers for 6th Assembly 1990 - 1994; Tabled Papers; ParliamentNT
Tabled by Barry Coulter
Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.
Business Conditions terms reflecting low debt servicing costs combined with improving labour market conditions and increasing economic activity. Business Conditions Outlook On balance, indicators show business in the Territory did not suffer to the same extent as elsewhere in Australia over the past three years, with the Territory returning to pre-recession levels o f activity ahead o f the national economy. The relatively strong performance in the Territory was underpinned by sustained consumer confidence which remained high throughout the national recession. Results o f recent national business surveys show significant upward revisions in expectations o f sales, planned investment in plant and equipment, and trading performance over the next six to twelve months. Taken together these indicate a significant improvement in business confidence compared to the previous three years. With prevailing favourable business conditions, growing domestic demand, planned increases in construction activity, significant investment in the mining industry and good prospects for Territory exports o f primary produce and tourism, Territory business is well placed to take advantage o f the accelerating upturn in national and Territory economic activity.
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