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A new economic report by the country’s largest bank has revealed which state economies are the best performing.

Northern Territory The Australian Capital Territory and South Australia performed well compared to previous years, with the ACT maintaining its highest ranking since April 2017, and SA achieving its highest place in just over a decade. Meanwhile, New South Wales, which shares its rank with Western Australia, sits at its lowest position in eight years. When it comes to unemployment, the Australian Capital Territory has the strongest job market. Despite the COVID-19 shock, unemployment in the ACT stands at 3.7%, which is 7.0% below the decade average. The next best is South Australia, with its ...

Business by Gerard Cockburn 27th Jan 2021 5:20 AM Tasmania has topped the states for economic performance, as traditional heavyweights lag due to lower investment and a reduction in spending. The latest CommSec State of the States economic report has revealed for the fourth quarter in a row the island state has powered ahead due to greater population growth, retail consumption and investment in infrastructure and equipment. The economic arm of the Commonwealth Bank noted there had been a "compression" in the rankings, with Quee...

Business by Jack McKay Premium Content   Queensland has been ranked ahead of NSW but behind Victoria in the latest CommSec State of the States report, which rated the Sunshine State's economy fifth best in the country. Tasmania took out the top spot for the fourth quarter in row, while the ACT came in at No.2, with Queensland's fifth place an improvement from the previous quarter when it was ranked sixth. The report said Queensland led the nation on total value of home loans - up 65.5 per cent on the long-term average. But comparing each state and te...