Arab Today, arab today western australia strongest state on economic growth
Last Updated : GMT 13:40:10
Arab Today, arab today
Arab Today, arab today

Western Australia strongest state on economic growth

Arab Today, arab today

Arab Today, arab today Western Australia strongest state on economic growth

Canberra - Xinhua

Australia is having a three-speed economy, with Western Australia leading as the strongest state on economic growth, and New South Wales ranked in the slowest lane, Commonwealth Securities (CommSec) quarterly \"State of the States\" report said on Monday. CommSec analyzes Australia\'s states through eight key indicators, economic growth, retail spending, equipment investment, unemployment, construction work done, population growth, housing finance and dwelling commencements. According to report author and Commsec economist Craig Jame, the results highlight the emergence of a multi-speed economy. He said Western Australia is clearly the nation\'s strongest economy and leading the way on equipment investment and it is also strong in retail spending, population growth and construction. He expects Western Australia to outperform if the Chinese resources boom continues. James said New South Wales, Queensland and Tasmania are part of another grouping which is towards the bottom end of the pack. \"I think it is fairly clear that performance can be broken up or divided up into those three different groupings,\" he said. On New South Wales, CommSec economist Savanth Sebastian said the state is struggling to find an X-factor that will drive growth. \"Population growth has been above average and that has supported New South Wales to some extent, but if you look across at other state economists there\'s the mining boom in Western Australia, Victoria has had healthy dwellings starts, and even Tasmania has low unemployment rates which is driving retail sales activity, and that\'s much the same for the Northern Territory,\" Sebastian said. But Sebastian said the New South Wales state government\'s move to abolish stamp duty should deliver some improvements to the state\'s housing industry. The report also said new dwelling starts in Queensland were not only 30.5 percent below the decade average, but 17.9 percent down on a year ago. Housing finance in Queensland was down 24.6 percent on the decade average. However, Queensland state Deputy Premier and Treasurer Andrew Fraser said the Commsec October quarter report was at odds with a number of leading economic reports which show Queensland is roaring back in a big way. \"If you look at any number of recent leading economic reports - National Australia Bank, Westpac, Deloitte Access Economics and the Commonwealth Bank\'s Economic Research report - you\'ll see Queensland is gearing up for nation-leading economic growth,\" Fraser said in a statement. \"Deloitte Access Economics said \'the big rebound in State growth has begun\' and the Commonwealth Bank\'s economics team says \'Queensland is starting to pop\'. \"NAB reports \'economic growth should outperform the national average this year\' and Westpac\'s studies say \'mining investment has propelled Queensland from laggard to leader\'.\" Fraser said the Commsec report has no credibility, and he was more focused on Australian Bureau of Statistics figures, which paint a brighter future for the state.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today western australia strongest state on economic growth Arab Today, arab today western australia strongest state on economic growth

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today western australia strongest state on economic growth Arab Today, arab today western australia strongest state on economic growth

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday