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Best performing states down under

07 March 2016 by News Desk

If you plan to live or work in Australia you’ll want to know which State offers most opportunities. Here’s the best performing states down under.

best performing statesBest performing states down under are New South Wales, Victoria, ACT and the Northern Territory, according to latest figures.

Of all best performing states down under New South Wales has retained top spot for economic activity, edging ahead of Victoria. Both states maintain a lead over the other states and territories.

The big change has been the rise of the Australian Capitol Territory economy to equal third alongside the Northern Territory.

Here is the latest CommSec guide to the Best performing states down under.

In the second grouping of economies Western Australia has dropped from fourth to fifth. But there is little to separate the ACT and Northern Territory.

In the third grouping of state and territory economies Queensland is ranked sixth ahead of the South Australia (seventh) and Tasmania (eighth).

NSW has achieved top ranking on six indicators: retail trade, population growth, housing finance, dwelling starts, business investment and unemployment. NSW ranks fifth on overall economic growth.

Victoria is ranked second on housing finance and population growth. But it is fifth ranked on equipment investment.

Northern Territory is top for construction work done and is ranked second on equipment investment, unemployment and economic growth.

ACT is best on dwelling starts (second ranked) and it is third ranked on economic growth, population growth and housing finance.

Western Australia is top ranked on economic growth and second on retail trade and construction work done.

Queensland does best on retail spending and dwelling starts (both fourth ranked). But the state is eighth ranked on construction work done.

South Australia is highest ranked (third) on equipment investment. But South Australia is seventh on economic growth and retail trade and eighth on dwelling starts.

Tasmania is ranked third on unemployment and ranks seventh or eighth on four other criteria. Unemployment has lifted in the past two months and real wage growth remains healthy.

To establish the best performing states down under, CommSec analyses eight key indicators – economic growth; retail spending; equipment investment; unemployment; construction work done; population growth; housing finance and dwelling commencements. For each state and territory key indicators are compared each quarter with decade averages.

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