Business confidence starts to reflect economic reality

I was very pleased to see this news yesterday in the Brisbane Times as it confirms my belief that the Queensland economy is strengthening due to the pipeline of resources sector investments (Queensland’s business confidence growth outpacing nation):

Business confidence is on the rise and the Queensland economy is in good shape, Treasurer Andrew Fraser says.

Mr Fraser was using the latest survey from the Chamber of Commerce and Industry Queensland’s to talk up the state’s financial outlook ahead of the March 24 election.

The CCIQ survey of business conditions shows Queensland’s confidence rose by five percentage points in the December quarter to 50.9 per cent, ahead of the national economy on 48.6 per cent.

Mr Fraser said the report showed a turnaround in general business conditions with an increase to 49.8 per cent, their highest level since March 2010.

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