THE latest Sensis Business Index has revealed business confidence in the Northern Territory is continuing to grow with an 11% increase against September data.
The Index, which surveys behavioural traits and trends among SMEs from a range of industries, showed that business rank the Northern Territory highly in terms of government support, falling second only to Queensland.
- Business confidence in Darwin increased strongly to +36% from +9% the previous quarter while regional business confidence is +39%;
- Compared to October, trend resident employment in the Territory increased by 0.3% to 129,084 in November which was driven by a 0.4% increase in full-time employment; and
- Over the same period the Territory’s trend unemployment rate fell by 0.2 percentage points to 4.7%, 1.1% below the national average of 5.8%.
Business minister David Tollner said the figures reflected the state government’s determination to strengthen the business outlook across the Territory.
“The latest labour force figures showing another increase in full-time employment in the Territory coupled with the Sensis data showing a continued increase in business confidence, is further proof that we are on the right track to fixing the mess left by the previous Labor Government,” Mr Tollner said.
“Of particular significance is the fact that small and medium business reported positive conditions in their local area and having plenty of work coming in as the main reasons for confidence.
“Mid-year Chief Minister Adam Giles released his Framing the Future blueprint for Territorians and what we are seeing in all the economic indicators is that the CLP government is on the right track.”
For more information about the Sensis Business Index, click here.