The Australian state economy outperforming the rest for the first time in a decade
The top state took first place on three key economic indicators while one east coast state languished near the bottom of the table
2 min
For the first time in a decade, Western Australia has the best performing economy in the country, new data has revealed. CommSec’s State of the State report showed the state held the top position this quarter in three of the eight economic indicators — retail spending, relative unemployment and relative population growth.
By contrast, the eastern states languished, with Victoria taking fourth position and NSW in seventh position, just ahead of the Northern Territory economy. The report said persistently high borrowing costs, based on interest rates maintained by the RBA to curb inflation, were having a negative impact on the rate sensitive NSW market.
This looks unlikely to change in a hurry with the report also examining annual growth rates across the eight indicators. It found WA has the strongest growth momentum, followed by Queensland, which is fuelled by strong relative unemployment figures and housing finance. The economic outlook for the Northern Territory is also positive given it now sits in second place on three economic indicators.
Western Australia edged out South Australia as the top performing state economy, after two quarters in first position.
Chief CommSec Economist Ryan Felsman said the resilient job market and steady population growth was continuing to underpin all state and territory economies.
“However, an extended period of elevated interest rates to counter persistent inflation is pressuring consumers and slowing economic momentum,” he said. “The path forward will largely depend on the ongoing strength of the labour market, trajectory for monetary policy and China’s economic recovery.”
While WA’s strong performance was based on ‘robust economic fundamentals’, Mr Felsman said the other states and territories were not far behind.
“WA is well positioned for sustained future performance; however, the competition remains intense, particularly among the top three states with Queensland moving quickly up the rankings,” he said.
CommSec is the digital broking arm of the Commonwealth Bank, Australia’s largest mortgage lender. It assesses the performance of each state and territory on a quarterly basis using eight key indicators including economic growth, retail spending, equipment investment, unemployment, construction work done, population growth, housing finance, and dwelling commencements.
BNW Developments has established a Sydney presence, joining Arada and Sobha Realty among the growing number of UAE developers pursuing Australian buyers and development opportunities.
Australian shares fell on Thursday as Wall Street weakness, rising oil and persistent rate concerns weighed on most of the market. The S&P/ASX 200 declined 0.72 per cent to 8,702. The All Ordinaries lost 0.66 per cent to finish at 8,897. Mining stocks were hit particularly hard, while real estate also dragged on the index. …
Continue reading “ASX falls 0.7 per cent as miners and property stocks retreat”
2 minAustralian shares fell on Thursday as Wall Street weakness, rising oil and persistent rate concerns weighed on most of the market.
The S&P/ASX 200 declined 0.72 per cent to 8,702. The All Ordinaries lost 0.66 per cent to finish at 8,897. Mining stocks were hit particularly hard, while real estate also dragged on the index.
Energy was the notable exception, gaining more than one per cent as Brent crude traded above US$103 a barrel. Oil had moved higher amid uncertainty surrounding potential US diesel-export restrictions and broader geopolitical supply risks. The move supported energy producers but renewed concern about inflation inputs across transport and the wider economy.
Gold shares were weak even as spot bullion remained historically elevated. The All Ordinaries Gold index fell about 2.25 per cent, showing that equity performance can diverge from the commodity because of valuation, currency, operating and company-specific factors.
Zip was a prominent loser, falling 11.38 per cent after the company reported short sales after the previous close. Nine Entertainment also weakened after UBS analysts warned of near-term revenue challenges associated with its advertising-supported subscription tier.
Premier Investments led larger winners despite caution about the retail environment. Breville, in which Premier owns a significant stake, also appeared among leading movers. In the broader ASX 300 screen, Myer gained 11.43 per cent and MAAS Group rose 7.93 per cent, while Lotus Resources fell 10.53 per cent. These percentage moves should be checked against company announcements and trading liquidity before attributing causes.
The Australian dollar was broadly flat at US70.38 cents. Spot gold was around US$4,280 an ounce, Brent crude approximately US$103.08 a barrel and iron ore near US$96.90 a tonne late in the session.
The rate outlook remains the central domestic catalyst. Labour-market weakness has not eliminated the possibility of an RBA increase next week, leaving banks, listed property and other rate-sensitive sectors exposed to changing expectations.
Market dashboard
S&P/ASX 200: 8,702, down 0.72 per cent.
All Ordinaries: 8,897, down 0.66 per cent.
Best sector: Energy, up more than one per cent.
Weakest areas: Real estate and materials were the major drags; confirm final sector percentages before publication.
Material winner: Premier Investments led the large-company gainers. Confirm its final closing move from the ASX before publication.
Material loser: Zip, down 11.38 per cent.
ASX 300 percentage leader: Myer, up 11.43 per cent.
ASX 300 percentage laggard: Zip, down 11.38 per cent.
AUD/USD: Approximately US$0.7038, broadly flat.
A survey of people with at least $1 million in investable assets found women in their 30s and 40s look nothing like older generations in terms of assets and priorities
From Italy’s $93,000-a-night villas to a $20,000 Bowral château, a new global ranking showcases the priciest Airbnbs available in 2026.
