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Economic State of the States | CommSec Report

How are Australia’s states and territories performing? 

Australia Economy Concept

Each quarter CommSec attempts to find out by analysing eight key indicators: economic growth; retail spending; equipment investment; unemployment; construction work done; population growth; housing finance and dwelling commencements.

Just as the Reserve Bank uses long-term averages to determine the level of “normal” interest rates; Commsec have done the same with the economic indicators.

For each state and territory, latest readings for the key indicators were compared with decade averages – that is, against the “normal” performance.

Key Findings: 
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  • NSW has solidly held the position as the best performing economy, at or near the top on all indicators.
  • Victoria has lifted to second spot on the economic performance rankings but there is little to separate the state from the ACT.
  • The ACT has eased from second spot to third due to a softening of the job market in recent months.
  • Tasmania remains in fourth spot and is joined by Queensland.
  • There is then a small gap to South Australia, in sixth position followed by Northern Territory in seventh.
  • Western Australia continues to lag other economies and annual growth rates remain below national averages on all indicators.

Economic State of the States

 

Read the full CommSec report here



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Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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