May 20, 2018 Last Updated 7:58 AM, May 18, 2018

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NSW retains crown as best performing economy

charts of growth tablesAusBNAusBN - New South Wales has retained its crown as the nation’s best performing economy, according to CommSec’s latest State of the States report.

The report revealed a multi-speed economy, with the states of Victoria and Australian Capital Territory also performing highly.

CommSec chief economist Craig James said: “Last quarter we said that NSW may experience a challenge from either Victoria or the ACT over the coming year, and that remains the case.”

The study measures each state’s performance across eight areas, with NSW retaining its top ranking in the investment, retail trade and dwelling starts sectors.

The state was also ranked in second place for construction work and economic growth and third for housing finance, population growth and unemployment.

However, ACT rose to the top ranking for housing finance whilst Victoria recorded the highest figures for population growth.

Western Australia was ranked at the bottom of the CommSec report, as the state continues to struggle after the end of the mining construction boom, despite unemployment easing in the first quarter of 2017.

@AusBNOnline

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