Commsec

Queensland's economy ranks 5th in the country

A QUARTERLY report indicates Western Australia's mantle as the country's strongest economy has slipped, with New South Wales the new title holder.

Western Australia has topped CommSec's State of the States report for more than three years, but a boom in housing construction has now driven New South Wales into first place.

CommSec economist Savanth Sebastian says New South Wales has risen from last to first in the past six years.

"No surprise that it is housing driven, so all the housing construction that's taking place in NSW," he said.

"We've been under-building for a number of years, now that turnaround is coming it's rippling out across the NSW economy, so a number of other areas are benefitting off it. Population growth is strong. Retail sales are lifting."

Read more at ABC News Online


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