ECONOMIC GROWTH SURGES IN NSW

ECONOMIC GROWTH SURGES IN NSW

NSW is leading Australia in economic growth, says the latest Commsec State of the States report.

The state recorded a 13.5 per cent improvement in the March quarter, compared to the decade average. Victoria was second with, 12.4 per cent, followed by ACT (11 per cent).

Meanwhile, Queensland has dropped to second last at 4.4 per cent, only ahead of Tasmania (4.3), as the state navigates the transition from the mining boom it enjoyed for around 15 years.

The State of the States report analyses eight indicators: economic growth, retail spending, equipment investment, unemployment, construction work done, population growth, housing finance and dwelling commencements.

For each of the states and territories, Commsec compares the latest reading of the key indicators with its decade averages.

NSW is leads the way on retail spending, equipment investment and dwelling starts, second behind Victoria in population growth.

The Northern Territory leads in construction work, as the state was 42.8 per cent above its decade average in March.

House building is surging in New South Wales, with the state around 77 per cent above its decade average.

You can read the full report here

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

How communications technology can raise the bar on customer service, employee experience
Partner Content
From capturing feedback early to providing messages with a higher rate of cut-through, ...
Advertisement

Related Stories

Car subscription software company Loopit eyes global markets after $3.6m seed round

Car subscription software company Loopit eyes global markets after $3.6m seed round

In a bid to enter new global markets and capitalise on the growing ...

Fashion-tech startup Citizen Wolf uses data to tailor tees, alleviate landfill

Fashion-tech startup Citizen Wolf uses data to tailor tees, alleviate landfill

As a consequence of our addiction to fast fashion, Australia sends ...

Apollo to divest large share of motorhome fleet to get Tourism Holdings merger over the line

Apollo to divest large share of motorhome fleet to get Tourism Holdings merger over the line

In an effort to appease Australian and New Zealand regulator concer...

Dexus awards John Holland building contract in $2.1b Waterfront Brisbane project

Dexus awards John Holland building contract in $2.1b Waterfront Brisbane project

After securing an $830 million contract from Dexus (ASX: DXS), Melb...