NSW consumers are once again the most confident in the nation according to the latest Westpac Melbourne Institute Index of Consumer Sentiment.
While the Index fell in QLD and SA and was flat in WA, consumer confidence in NSW rose 2.4 per cent to 106.4 in March, well above the national average of 99.7, and the highest of all states for the fifth consecutive month.
A result above 100 indicates that optimists outnumber pessimists.
Treasurer Dominic Perrottet said the NSW Government had steadily transformed NSW into an economic powerhouse, fuelling confidence across the community.
“In the last six years we have made NSW the best economic performer in Australia, so it’s no surprise consumer confidence here is leading the nation,” Mr Perrottet said.
“Stronger consumer spending supports our businesses, and that’s just one of the reasons businesses are choosing NSW as the place to grow, invest and create new jobs for the people of NSW.”
The results coincide with latest NAB Business Survey, showing business conditions in NSW have remained above the national average for more than two years.
“As a government we are doing whatever we can to set the best possible conditions for businesses to flourish, and clearly our massive infrastructure program is a big part of that,” Mr Perrottet said.
“Our work is never done, and we will continue to provide the sound financial management and bold policy leadership to make NSW the best place to live, work and raise a family.”