RDACWQ Economic Update Q3, 2023
The September 2023 Central and Western Queensland quarterly update highlights the ongoing growth and prosperity of the region, despite challenging economic headwinds.
The region continues to grow the number of jobs with increasing number job vacancies demonstrating the economic resilience and strength of the Central and Western Queensland region.
A key highlight in this quarter is the record throughput across the region’s airports, most notably at Rockhampton due to the Singaporean Armed Force’s Exercise Wallaby at Shoalwater Bay Training Area – an indicator of the value of defence activity in the region.
Looking forward, strong non-residential building approvals and higher prices for base metals and demand for agricultural fibres (cotton and wool) point to continued growth across the economy.
However, continued growth in the Central and Western Queensland region requires investment in public infrastructure. Maintaining this pipeline of investment is central to the region’s ongoing prosperity.