Latest Upper Hunter Economic Update
August Breakfast Presentations and latest Economic Indicators publication
Tuesday, 9 August 2011
MEDIA RELEASE
Contact: Jenny Williams, Research Fellow, HVRF
Local economy mirrors factors playing out in the national context
Massive capital investment in resources and resource-related industry, a strong Australian dollar and tight labour market are reflected in both the national and Upper Hunter economies at the midpoint of 2011, according to the latest Hunter Valley Research Foundation’s Upper Hunter Region Economic Indicators, to be released at breakfast tomorrow morning.
However, HVRF Research Fellow, Jenny Williams, said that while the national economy is showing signs of increased consumer resistance to spending the fall in confidence and softening of business conditions has not had as much impact in the Upper Hunter.
“Consumer confidence and spending expectations have eased among Upper Hunter residents but this was muted in comparison with the Hunter Region as a whole and the rest of Australia,” she said. “While there appears to be some moderation of recent buoyancy in the Upper Hunter economy, and a downturn in business and consumer confidence for the next quarter, the medium term outlook remains positive. The main risk to this is the possibility of a second GFC, which could slow growth further.”
Jenny will provide a snapshot of the Upper Hunter Region economy at tomorrow’s breakfast, which is supported by Coal & Allied.
Other speakers:
- Craig James, CommSec - Economy 2011: A time of significant change
- Bill Champion, Coal & Allied - Coal & Allied: Proud of our history in the Upper Hunter Valley and committed to the future
ENDS