The economic State of the States – January 2021

How are the various States performing economically?

Each quarter Commsec looks at 8 key indicators to see how each States economy is performing.

Last quarter Tasmania was the best-performing economy taking into account all the indicators, with ACT at #2.

State Of The States National Economic Overview
But Victoria retained the top position for economic growth with its economy performing 23% above it’s long term average
Victoria Leads Economic Growth

Population growth

Population growth is clearly an important driver of the broader economy, especially retail spending and housing demand.

The state with the fastest absolute annual population growth is now Queensland (up 1.58 per cent).

Next strongest is Victoria (up 1.49 per cent), Western Australia (up 1.47 per cent) and ACT (up 1.13 per cent).

Victoria’s annual population growth of 1.77 per cent is the slowest rate in nine years and the NSW population growth is the slowest in 13½ years.

Poplulation Growth

Watch Commsec economist Craig James summarise the report findings


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