NSW economy powering ahead

4 September 2015

Suburban NSW

A new 'Stateometer' measuring the economic performance of our states and territories shows that NSW is pulling ahead of the pack.

The analysis conducted by ANZ Bank and released this week, found NSW was the nation's best performing economy by a significant margin, with predictions that the state's robust economic performance was likely to continue.

Separate figures released by the Bureau of Statistics showed NSW building approvals were up by 27% in July, also highlighting the strength of the state's economy.

Important factors contributing to the state's strong economic performance include very low interest rates and the strong housing construction sector.

Rising house prices, especially in Sydney, have given a boost to retail spending in NSW. A weaker Australian dollar has also helped to sustain NSW industries.

Read the full story online at Sydney Morning Herald.