The latest CommSec State of the States report shows NSW has consolidated its spot at the top of the economic rankings and there is now a wider gap to the next grouping of states and territories. Interestingly, Victoria has now taken second spot, leaping both Northern Territory and Western Australia. While there is little to separate these three economies, Northern Territory is in third spot while Western Australia is fourth ranked. <a href="" rel="nofollow noopener" target="_blank" data-event-type="click" data-event="link_click">(VIEW LINK)</a>

Queensland barely holds on to fifth spot from the ACT (sixth). They effectively constitute a third tier of economies. The fourth tier of economies is made up of South Australia (seventh) and Tasmania (eighth). NSW has retained its top rankings on population growth, retail trade and dwelling starts. It is now second placed on unemployment and is also second strongest on equipment investment. The other rankings are: housing finance (third); construction work (fourth) and economic growth (fifth). Victoria has now lifted into second spot on the economic performance rankings. Victoria’s main strengths are population growth and housing demand but lags on equipment investment (fifth). The Northern Territory is now the third ranked economy, drifting down from equal first to second and now to third in recent surveys. While the Northern Territory is ranked first on four indicators including economic growth and the job market, it is eighth on population growth and housing. Western Australia has now drifted to fourth spot on the performance rankings. (VIEW LINK)