Queensland rated best for business, NSW downgraded to fifth
QUEENSLAND has been rated the best state for business investment, while New South Wales has moved down to equal fifth in CommSec's latest State of the States report.
The report, released today, pits each state against each other on key economic indicators, and has reaffirmed Western Australia's place atop the pile.
It rated Queensland and the ACT equal third, with the Sunshine State leading all jurisdictions on business investment and third strongest for economic growth.
The state picked up 18.5% in economic growth, but lacked population growth, for which it was rated seventh among the states.
Queensland was also rated third strongest for retail trade and construction work and noted a pick up in housing finance over the last quarter.
Economic growth was the key weakness for NSW, which rated seventh of all states on that indicator, while it was third on unemployment, population growth and housing starts.
The key driver of construction was up significantly across the nation's north and west, with Queensland, WA and the NT reporting growth of 49%, 69% and 79% respectively.
While the slowdown in mining investment will continue, the CommSec report found both Queensland and NSW can expect to benefit most from a boost in home building.