Media Release: Macarthur contributes $5.1 Billion to the State economy
In 2005/06 Macarthur region's Gross Regional Product (GRP) totalled $5.1 billion, which was 1.8% of the NSW Gross State Product of $282.1 billion.
GRP, a key indicator of regional economic activity, is the total value of all final goods and services produced for money in the region, after deducting the cost of goods and services used in the process of production, but before depreciation.
Campbelltown remains the economic powerhouse of the region with its GRP estimated at $3 billion, followed by Wollondilly and Camden at close to a billion dollars each.
The President of MACROC Councillor Rob Elliott said, "Manufacturing remains the backbone of the Macarthur economy contributing $1 billion or 19.5% to the regional GRP, followed by Property and Business Services (9.3%), Retail Trade (8.3%) and Education (7.4%).
"In estimating GRP for the Macarthur region from the State aggregate we loose some accuracy but data published in the December 2006 issue of the Macarthur Economic Profile are the best available estimates of the size of the Macarthur economy", says Rob Elliott.
Councillor Rob Elliott said "another pleasing feature of the Macarthur economy was the strong 41.1% increase in the number of building approvals for residential dwellings in the September 2006 quarter, which foreshadows increased residential construction activity in the months ahead."
MACROC publishes every quarter the Macarthur Economic Profile to keep businesses and residents informed of current economic conditions and emerging trends in the Macarthur region.
The December Economic Profile is available for download below:
File: Macarthur Economic Profile - December 2006
Note: If you are on a slow connection or would like to download the profile for offline viewing, "right click" your mouse button and select "Save target as". This will allow to to choose a location on your computer for the download.
All MACROC Quarterly Economic Profiles require Adobe Acrobate Reader version 5 or greater. Adobe Acrobat Reader is a free product from Adobe Systems Inc. and can be downloaded here.