CommSec has released its highly anticipated quarterly State of the States report, with Western Australia declared the shining star of the Australian economy, coming either 1st or 2nd out of seven of the eight key indicators.

 

Despite WA keeping a firm hand on its lead, CommSec’s report showed that the state has slipped from its lofty heights of last quarter, where it dominated, posting a lead in six of the eight indicators.

 

The Northern Territory claimed second spot on the state’s ladder, deposing ACT for the second slot, which recorded little change from its previous strong points.

 

The Northern Territory claimed strong economic growth, a growing job market and firm retail spending and stronger dwelling starts, the one index where Western Australia posted lacklustre results.

 

Little separates the three major states, with Victoria, NSW and Queensland all boasting firm population growth and low unemployment rates.

 

South Australia posted disappointing results, going no higher than fourth on any of the key indicators. CommSec said the decision to shelve BHP’s Olympic Dam expansion had delivered a significant blow to the short term economic momentum of the state.

 

Tasmania is lagging all other economies on five of the eight indicators. Weak population growth and rising unemployment continue to restrain retail spending and overall economic growth.

 

 

The full report can be found here