Western Australia Shines in Latest CommSec Economic Report

In the latest CommSec State of the States economic report, Western Australia has emerged as the best performing economy in the country for the quarter. 

The State of the States report ranks the economic performance of the states across the country, tracking 8 key economic indicators. These include economic growth, retail spending, equipment investment, unemployment, construction work, population growth, housing finance, and dwelling starts. 

Western Australia was in the lead for three of the report's eight indicators - retail spending, unemployment, and population growth. 

Moving from 3rd to 1st position, WA's retail spending was 10.5% higher than the last quarter. 

With unemployment sitting at 3.7%, WA boasts the strongest job market, which heavily contributes to growing the economy overall. 

Population growth is strong in all states, however WA led the way with a 3.11% annual population growth rate. This indicates that people want to move to the West, drawn to the abundant opportunities and laidback lifestyle.

WA was also in the lead for new car sales, which were up 25% compared to the decade average. 

This marks the first time in a decade that Western Australia has topped the list, highlighting its strong position for sustained future growth and reinforcing Premier Roger Cook's claim that WA is the "engine room of the nation's economy."

Read more and download the CommSec State of the States report here.