A new Chamber of Commerce and Industry Queensland (CCIQ) survey reported on by the Cairns Post today provides further evidence a recovery is underway in Far North Queensland:
CCIQ Far North Queensland policy chairman Brett Moller said the region had “in general performed admirably over the past decade largely due to the efforts of the businesses and communities across the region”.
“Despite facing some significant challenges over its more recent history, the economic fundamentals for the Far North Queensland region are potentially quite strong and indicators point to there being a modest economic recovery under way,” he said.
I posted on the recovery in FNQ a couple of months ago, although I was probably a bit too confident about the strength of it:
It’s probably more accurate to say the recovery is modest. Building approvals, an important leading indicator, still appear weak. Mark Beath at Loose Change has covered the disappointing building approvals figures for Cairns, linking them to both the over-hang from the pre-financial crisis building boom and massive increases in strata insurance premiums in recent years: