Tasmanians lead the way in spending growth in Commonwealth Bank Business Sales Indicator

Tasmania recorded Australia’s highest growth in spending on the same time last year, says a new Commonwealth Bank report.

TASMANIA recorded Australia’s highest growth in spending on the same time last year, says a new Commonwealth Bank report.

Released this morning, the Commonwealth Bank Business Sales Indicator — a measure of economy-wide spending — shows spending across the country rose by 0.5 per cent in trend terms for the month of April.

Bolstered by the Easter long weekend and the ANZAC Day holiday, spending rose across all states and territories except the Northern Territory.

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The BSI is put together by tracking the value of all credit and debit card transactions processed through Commonwealth Bank merchant facilities.

Sales were stronger across all states and territories in April except Northern Territory (down 0.4 per cent).

The strongest growth occurred in Queensland (up 0.9 per cent) followed by Victoria and Tasmania (both up 0.8 per cent)

In annual terms, all states and territories had sales above a year ago, except the Northern Territory, with the strongest growth in Tasmania — up 7.1 per cent.

The Commonwealth Bank Business Sales Indicator shows spending across the country rose by 0.5 per cent in trend terms for the month of April.

Among the biggest gains in sales for the month were recorded by amusement and entertainment and utilities as well as hotels and motels.

Sales fell most in clothing stores and business and repair services.

“There will be a case of getting back to normal after the election, but with job markets generally healthy and interest rates low, the outlook for local businesses does remain generally positive,” said CommSec Chief Economist Craig James.