WA has number one economy in Australia, CommSec

A STRONG job market and the rising demand for resources has helped propel WA as the nation's best performing economy, a new survey shows.

CommSec assessed each of the states and territories on eight key indicators – economic growth, retail spending, equipment investment, unemployment, construction work done, population growth, housing finance and dwelling commencements.

The ACT was the second best-performing economy in the country, followed by South Australia, Northern Territory, Victoria and Tasmania, while Queensland and New South Wales were equal seventh.

“Looking ahead, Western Australia is well placed to maintain its ranking as best performing state, but the bigger states – Victoria, Queensland and NSW – seem well placed to regain some of the ground lost in the global financial crisis.”