The New South Wales economy remains the nation’s strongest and the mining downturn has sent Queensland and Western Australia tumbling down the rankings. CommSec’s rankings are based on each state’s performance in eight key economic areas, including investment, construction work, retail spending and economic growth. “In two years Western Australia has gone from first to seventh in the performance rankings,” James said. NSW extended its lead on Victoria in the latest Commsec State of the States report, driven by economic and population growth, a healthy housing market and strong retail spending. “Once again NSW is leading the way on many economic indicators and can claim the top ranking of economic performance,” the CommSec chief economist, Craig James, said.

Source: The Guardian July 24, 2016 22:07 UTC