Commsec State of the States July 2021, Tasmania leads the nation

Tasmania is ranked first on relative population growth, equipment investment, relative unemployment and dwelling starts. Tasmania also ranks second on retail trade and is third ranked on relative economic growth.

Sourced from Commsec 23rd August 2021

Of the other economies there is little to separate Victoria, the ACT, South Australia, NSW, Western Australia and Queensland. In a fast-evolving environment dominated by the Covid-19 virus, rankings of relative economic performance can change, even on a monthly basis. In an absolute sense, Australia’s state and territory economies are in strong shape, well supported by strong fiscal and monetary stimulus.

Unemployment rates are historically-low across much of the nation – remarkable when you consider the Covid-19 challenges and when the broader Australian economy was in recession just over a year ago. As noted, Tasmania leads relative economic performance on four indicators. Victoria leads on housing finance and construction work done. 

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