While Queensland may have it over us in the State of Origin (NSW represent #1inarow), they certainly can’t compete on an economic level, with NSW furthering it’s lead over every other state.
CommSec chief economist and finance lord Craig James said that NSW was the leader in six out of eight indicators that are used to judge which state is doing the best.
With Victoria trying really hard to get one over NSW, they still come in at a healthy second and far in front of all other states; “While Victoria hasn’t been able to close the gap with NSW, it is clear that NSW and Victoria maintain a healthy lead in economic performance over the rest of the nation”
Here’s the gist of the findings for each state:
NSW: Ranked number one in retail trade, population growth, housing finance, dwelling starts, business investment and unemployment, the lowest rank it received was fifth in overall economic growth.
Victoria: Received second place for housing finance and population growth, but fifth on equipment investment. Get some more equipment, aye.
Northern Territory: The leaders for construction work done and second ranked on equipment investment, unemployment and economic growth gives NT third place on the ladder.
ACT: Tied for overall third place with NT, the ACT excelled on dwelling starts (second place) and received third place for economic growth, population growth and housing finance.
Western Australia: The top performer on economic growth and second on retail trade and construction work done. Nice.
Queensland: Strongest in retail spending and dwelling starts, but only fourth on the list for both. They also ranked eighth on construction work done. Poor form.
South Australia: Best at equipment investing (third place) but seventh on economic growth and retail trade, and eighth on dwelling starts.
Tasmania: Tassie ranked third on unemployment and seventh or eighth in four other areas. Poor little guy.