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Vic, NSW slip as SA takes the economic lead

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The CommSec State of the States report has unveiled South Australia as the surprising economic leader among Australia’s states and territories for the first time in the history of this quarterly survey.

The report, which analyses the economic performance of different regions across the country, provides valuable insights into the economic momentum and growth rates of Australia’s diverse regions.

Overall, the economic performances of Australian states and territories continue to be bolstered by robust job markets and a substantial increase in population, even as interest rates are on the rise.

Higher borrowing

However, these economies have faced a slowdown in response to higher borrowing costs and inflationary pressures, with their future trajectories closely tied to the course of inflation amidst rising interest rates.

South Australia clinched the top spot in this quarter’s rankings, surpassing its counterparts for the first time in 14 years of the report’s existence.

The next Australian city to host the Olympics

South Australia excelled in four out of the eight key economic indicators: relative economic growth, relative unemployment, construction work done, and dwelling starts.

Second position

Victoria and New South Wales shared the second position in the rankings, followed by Western Australia in fourth place, and Tasmania in fifth.

The Australian Capital Territory secured the sixth position, while Queensland and the Northern Territory landed in seventh and eighth places, respectively.

When measuring annual growth rates across the eight key indicators, Western Australia emerged as the leader, followed closely by Queensland, Victoria, and New South Wales.

South Australia came in fifth, with the Northern Territory, the ACT, and Tasmania occupying the remaining spots.

Western Australia demonstrated its dominance by leading in annual growth rates across three of the eight indicators, while the Northern Territory led in two indicators. Queensland, South Australia, and the ACT each led in one of the indicators.

Top position

The analysis of this quarter’s results revealed that South Australia’s ascent to the top position was fueled by significant progress in construction-related sectors and overall economic growth. Looking forward, trends in job markets, consumer spending, and housing will continue to be crucial, with Queensland, New South Wales, and Western Australia showing promising economic momentum.

The methodology employed in this report assessed the performance of each state and territory by comparing their economic indicators to decade averages.

This approach allowed for a comprehensive understanding of how each economy was performing relative to what would be considered ‘normal’ in their specific context.

As Australia’s economic landscape continues to evolve, the CommSec State of the States report remains a valuable tool for policymakers, investors, and the public, shedding light on the relative strengths and weaknesses of different regions across the country. With South Australia taking the lead in this quarter’s report, the economic competition among Australia’s states and territories is more dynamic than ever.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Boeing face delivery delays following guilty criminal charge plea

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Boeing’s deliveries are down after months of controversy, is it because they can’t make the planes, or because airlines right now don’t want them?

Boeing has agreed to plead guilty to a charge of conspiracy to defraud the United States in connection with the investigation into two fatal crashes involving its 737 MAX aircraft.

Boeing reported a significant 27% decrease in deliveries for June compared to the same month last year, possibly attributing the decrease to the companies ongoing controversies.

Aviation expert Geoffrey Thomas joins to discuss. #featured

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Blockchain sparks a transformative influence in Australia

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Professor unveils blockchain’s role in transforming the economy and innovative projects taking place at RMIT University.

Crypto Corner explores the latest market movements, expert insights and the influence of macroeconomic factors on the crypto industry.

Crypto Corner is hosted by Caroline Bowler, CEO of BTC Markets.

In this episode, BTC Markets CEO Caroline Bowler interviews Professor Chris Berg, Director of RMIT Digital3 and Co-Founder of the Blockchain Innovation Hub at RMIT University. They discuss RMIT’s cutting-edge projects and the transformative impact of blockchain technology in Australia.

Professor Berg shares insights into RMIT’s Digital3 philosophy, which combines research, innovation, and collaboration to drive the digital economy. Learn about groundbreaking initiatives in blockchain, cyber security, and AI, and how these disruptive technologies are reshaping business, government, and society.

Discover how RMIT is leading the charge in rethinking and regenerating the way we work through world-class research and tailored education, offering a glimpse into the future of technology and its potential to benefit both the economy and society. #crypto corner

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From $25K to $1.5M in real estate: expert unveils game-changing strategy for investors

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Empower your property investing with these key tips

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Dean Fraser, Founder and CEO of BrickFloor. #trending #wyld money

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