Territory Stories

Territory economic review

Details:

Title

Territory economic review

Creator

NT Treasury, Economic and Social Analysis Unit

Collection

Territory economic review; Department of Treasury and Finance newsletters; PublicationNT; E-Journals

Date

2012-05-01

Notes

Date:2012-05; Made available via the Publications (Legal Deposit) Act 2004 (NT).; This publication contains may contain links to external sites. These external sites may no longer be active.

Language

English

Subject

Northern Territory -- Economic conditions -- Periodicals

Publisher name

Northern Territory Government

Place of publication

Darwin

File type

application/pdf

Copyright owner

Northern Territorty Government

Parent handle

https://hdl.handle.net/10070/248607

Citation address

https://hdl.handle.net/10070/570483

Page content

Territory Economic Review May 2012 Economic Group Northern Territory Treasury (08) 8999 6801 www.nt.gov.au/ntt/ economicservices.ntt@nt.gov.au - 9 - Sensis Business Index Business confidence in the Territory decreased by 1 percentage point in the February quarter 2012, to record a 17 per cent positive response rate (see chart). The Territory recorded the third lowest level of confidence among the jurisdictions. Other jurisdictions recorded between 38 per cent (Victoria) and 5 per cent (South Australia) over the same period. A majority of Territory small and medium enterprises are expecting increases in most indicators over the next three months. However, Territory SMEs are expecting lower capital expenditure over this period. February quarter 2012 results for the Territory business confidence follow: 3 per cent were extremely confident; 48 per cent were fairly confident; 15 per cent were neutral; 29 per cent were fairly worried; and 5 per cent were extremely worried. Retail Trade Turnover In February 2012, seasonally adjusted retail trade turnover (current prices) in the Territory remained flat at $235 million compared to January 2012. In the year to February 2012, in original terms, retail trade turnover (current prices) in the Territory increased by 3.2 per cent to $2.8 billion (see chart). The Territory recorded the fourth highest year on year growth among all the jurisdictions. Year on year growth varied between -0.3 per cent in South Australia to 8.7 per cent in Western Australia. The increase in Territory retail trade was driven by increases in take away food services (up by 23.5 per cent), and cafes, restaurants and takeaway food (up by 20.2 per cent). The increase was partly offset by decreases in pharmaceutical, cosmetic and toiletries (down by 20.7 per cent) and other recreational goods (down by 9.6 per cent). Sales of New Motor Vehicles Compared to February 2012, the number of seasonally adjusted new motor vehicle sales in the Territory increased by 8.3 per cent to 900 in March 2012. The move reflects a 13.2 per cent increase in Sports Utility Vehicles (SUV) sales and an 11.7 per cent increase in passenger vehicle sales. This was partly offset by a 0.8 per cent decrease in other vehicle sales. Nationally, seasonally adjusted sales of new motor vehicles increased by 4.0 per cent over the same period. In the year to March 2012, the number of new motor vehicle sales in the Territory decreased by 0.2 per cent to 10 193 (see chart). The decline reflects a 2.9 per cent decrease in passenger vehicle sales and a 3.7 per cent decrease in other vehicle sales, while a rise of 9.6 per cent in SUV sales partly offset these declines. Nationally, the number of new motor vehicle sales decreased by 1.2 per cent over the same period. Business Confidence Index* (Latest data February quarter 2012) * quarterly data Source: Sensis Business Index, February quarter 2012 Retail Trade Turnover* (Latest data February 2012) * year on year percentage change, original data Source: ABS Cat. No. 8501.0 Sales of New Motor Vehicles* (Latest data March 2012) *moving annual total, original data Source: ABS Cat. No. 9314.0 0 10 20 30 40 50 60 70 80 0 10 20 30 40 50 60 70 80 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Northern Territory Australia Year ended June Per Cent Per Cent 0 2 4 6 8 10 12 14 0 2 4 6 8 10 12 14 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Per Cent Northern Territory Year ended June Per Cent Australia Year ended June 0 2 4 6 8 10 12 0 2 4 6 8 10 12 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Year ended June Total Passenger vehicles Other vehicles SUVs Number ('000) Number ('000)