How are Australia’s states and territories performing?
Each quarter CommSec attempts to find out. Now in its 12th year, the report also includes a section comparing annual growth rates for the eight key indicators across the states and territories as well as Australia as a whole, enabling comparisons in terms of economic momentum.
It is important to note at the outset that all states and territories are performing solidly. That is no small matter in an environment dominated by the Covid-19 virus with the frequent – but necessary – lockdowns and border closures. The aim is to protect the health of Australians while substantial stimulus and support measures protect economies.
In a relative sense, and for the sixth quarter in a row, Tasmania holds the mantle of the best performing economy. Tasmania leads on four of the eight indicators and is second ranked on another two. There is little to separate the other economies. Victoria is second; ACT, third; South Australia, fourth; NSW, fifth; Western Australia, sixth; Queensland, seventh; and the Northern Territory is eighth.
Read the full report here.
