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Commonwealth Bank June report on state economies shows WA leads the pack
Commonwealth Bank June report on state economies shows WA leads the pack 26 June 2024 Matthew Hughes Source: News.com.au JOURNALIST: Duncan Evans June 24, 2024 Finance behemoth Commonwealth Bank has released its latest economic health check on the nation and there is one state blowing everyone else away. Minerals-rich WA is Australia’s proverbial boomtown, with a rich economy pulling in a growing swell of Australians and international migrants eager to “go west” and live the good life. Commonwealth Bank’s latest quarterly economic report on each state and territory and how they stack up against each other shows mining-heavy WA far ahead on key metrics like unemployment, private sector growth and state final demand, which calculates internal economic activity by stripping out exports. WA’s unemployment rate sits at about 3.6 per cent, the lowest in the country. Victoria, by contrast, has an unemployment rate of 4.3 per cent. State final demand in WA grew 4.1 per cent across the year to June, the report states, more than double the growth rates recorded in South Australia, Tasmania and Victoria. SFD grew 2.1 per cent in NSW and 2.6 per cent in Queensland. “The strongest state economy
Source: News.com.au JOURNALIST: Duncan Evans June 24, 2024 Finance behemoth Commonwealth Bank has released its… Read Article