Are you curious to find out the individual rankings of Australia’s states and territories by economic performance during the past quarter?
Australia’s southeastern states and territories continued to outperform all other parts of the nation with New South Wales, Victoria and the ACT ranked first, second and third respectively in terms of economic performance.
New South Wales
New South Wales has held onto the position of best performing economy on a broad range of economic indicators including economic growth, retail trade, dwelling starts and business investment.
Victoria remains firmly in second place, top ranked on population growth and housing finance.
The Australian Capital Territory
The Australian Capital Territory has held onto third position, ranking second on housing finance and third or fourth for other key indicators analyzed for the quarterly report.
Tasmania, at fourth, was the big mover during the quarter, rising from seventh in the previous quarter with population growth boosting housing demand and supporting the job market.
At the fifth position, Queensland, benefiting from stronger population growth and home building. Queensland is being underpinned by a modest recovery in population growth, driving demand for homes. In fact, home starts are more than 36% higher than the decade-average.
The Northern Territory is lagging other economies in sixth place on forward-looking indicators including population growth, housing finance and home starts, but remains top-ranked on construction work done and unemployment.
The South Australian economy, in seventh position, is middle ranked on business investment and fifth ranked on three other indicators while the economic performance of Western Australia continues to reflect the ending of the mining construction boom.