NSW leads Australia's economy

21 January 2015

Two professional people walking at the Sydney Opera House.

New South Wales is the leading Australian economy, according to the State of the States economic performance report released by CommSec.

CommSec's quarterly report analyses eight key indicators: economic growth; retail spending; equipment investment; unemployment; construction work done; population growth; housing finance and dwelling commencements.

The latest readings of key economic indicators are then compared against decade averages for each state and territory.

NSW led Australia's economic performance rankings for the first time since July 2011 during the last quarter and has maintained its position this quarter.

Commsec credits improved retail spending with cementing NSW's position as number one in the economic performance rankings.

The news builds on ABS data which shows the NSW unemployment rate is now the lowest of all Australian States, for the first time since September 2009.