New South Wales ahead of Victoria as Australia’s strongest economy

By Galia Ilan

Once again New South Wales has been awarded top spot as Australia’s strongest economy in the first quarter of 2018, claims Commonwealth Securities (Comsec).

According to a new report released by the stockbroking firm, the state overtook Victoria for another consecutive year.

“New South Wales has retained the position as the best performing economy, at or near the top of most indicators,” stated Commsec.

“It secured top rankings on the same five economic indicators as last quarter: retail trade, dwelling starts, equipment investment, construction work and unemployment.”

New South Wales reportedly ranked top in five out of the eight economic indicators, securing it the top spot, with Victoria coming in second due to high population growth increasing housing demand.


“High population growth and improvement in the job market have strengthened Victoria’s position,” commented Craig James, Commsec’s Chief Economist.

Victoria also placed second for five out of the eight indictators, and third for the remaining three.

The indicators were economic growth, retail spending, business investment, unemployment, construction work, population growth, housing finance, and dwelling commencements.

Coming in third was the Australian Capital Territory, followed by Tasmania, South Australia, and Queensland.

The Northern Territory was ranked seventh, with Western Australia placing last.


Featured Articles

Exec interview: Brook Sims, COO, MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Best new books that will make you a better leader

From inspiring CEO memoirs to strategic guides, these new books dish up plenty of principles, strategies, and anecdotes to help you become a better boss

5 Mins With: Jeff Li, founder and CEO of Shoplazza

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

Workplace special – the changing nature of the office

Leadership & Strategy

Meet Shanique Bonelli-Moore, DEI leader at Clorox


Forterro CEO Dean Forbes – inspirational leadership

Leadership & Strategy