Tasmania back on top

Queensland slips back to second place, in a draw with South Australia.

Tasmania is once again the country’s best performing economy, according to CommSec’s State of the States report – a quarterly ranking of economic performance.

A strong job market and more new dwelling builds has put Tasmania back in the number one spot. It is the 11th time in three years that Tasmania has led the country as the best performing economy.

There is little to separate other states in the latest report with Queensland and South Australia equal second, followed by NSW in fourth, Victoria and Western Australia in equal fifth.

The ACT has slipped from sixth to seventh, while the Northern Territory remains in eighth position.

The CommSec State of the States report uses the latest available information to provide an economic snapshot of each state and territory by comparing eight key indicators: economic growth, retail spending, equipment investment, unemployment, construction, population growth, housing finance and dwelling commencements.