The NSW economy has come back from the dead with new figures showing stronger than expected jobs growth and a pick-up in revenues.
Instead of contracting, the NSW economy is expected to grow modestly in the current financial year and unemployment is expected to peak at 6.5 percent, two percentage points down on original estimates.
The NSW economy is now expected to grow by 1.5 percent this financial year, compared with the 0.5 percent contraction anticipated in the budget papers.
Treasurer Eric Roozendaal said the green shoots of recovery are evident in the NSW economy.
“We are seeing stronger growth, lower unemployment and stronger budget bottom lines than expected six months ago,” he said.
Keneally first female NSW Premier