Western Australia’s economy leads other states and territories, new report says.
Western Australia has the strongest economy in Australia, according to a latest quarterly report on the performance of the country’s states and territories.
CommSec’s figures on the fortunes of individual states and territories show Western Australia leads the way in home purchase and construction.
The State of the States report ranks Northern Territory closely on economic growth, business investment, unemployment and construction work.
New South Wales was the strongest on population growth and dwelling starts but remains third in home building.
Queensland, Victoria and the ACT sit close to each other on the economic performance, with equipment investment strongest for Queensland, solid population growth for Victoria, and low unemployment and solid home building for the ACT.
South Australia is ranked sixth to eight on the key indicators but is losing momentum due to a weak job market, with Tasmania remaining bottom of the economic performance table.