Qld Treasury GRP figures show Far North really struggled post-financial crisis

Queensland Treasury released its latest gross regional product (GRP) estimates yesterday, and they confirm that Far North Queensland really struggled in the post-financial crisis period, with the Far North’s GRP (in real terms) actually marginally contracting between 2006-07 and 2010-11 (see the chart below based on Table 2 in the publication).

GRPgrowthIn other news, today’s ABS National Accounts data confirmed what we already knew from labour force data, that the December quarter was very weak for Queensland (see Treasury’s information brief).

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