Tasmania continues to lead in the latest CommSec State of the States report, while Queensland and WA show the strongest momentum moving into the second half of 2021, largely due to internal migration. The report finds that, for the sixth quarter in a row, Tasmania is the best-performing economy.

It led on four of the eight indicators (population growth, equipment investment, employment and dwelling starts) and ranked second on another two indicators.

However, there is little to separate the other states and territory economies. Victoria was 2nd, ACT 3rd, South Australia 4th, NSW 5th, WA 6th, Queensland 7th, and Northern Territory 8th.

CommSec chief economist, Craig James says: “It’s important to note that all states and territories are performing solidly. That is no small feat in an environment dominated by Covid with the frequent lockdowns and border closures.”