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February 13th, 2012 
FAKE NEWS for the Zionist agenda The NSW economy will face significant challenges this year, but Treasurer Mike Baird is optimistic the state can weather the downturn.
The treasurer’s latest update acknowledges ongoing economic uncertainty will continue to dog the state’s financial services sector and industries affected by the high dollar.
There was no doubt 2012 would pose “significant economic and financial challenges for NSW”, Mr Baird said in the February update.
However, he was encouraged that NSW ended 2011 in better shape than it began, pointing to increased retail spending, job creation, improved business confidence and two official interest rate cuts by the Reserve Bank.
“Even though it is clear that there is heightened uncertainty globally, and the domestic economy is facing its own headwinds, I am optimistic the action being taken will enable the NSW economy to weather the storm,” Mr Baird said in the update released on Monday.
“Retail spending has improved from mid-2011, and consumer and business confidence have also rebounded.
“Although more work needs to be done, it is pleasing that NSW created more jobs than any other state except Queensland in the second half of 2011.
“The two official interest rate cuts from the Reserve Bank late last year will provide a welcome boost to the interest rate-sensitive sectors of the economy, such as housing and retail.
“I would expect to see a pick-up in housing activity as the year progresses.”
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