Construction is Tasmania’s strength, while economic growth is the lowest when compared with the other states, the latest CommSec State of the States showed.
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State of the States assesses eight economic indicators against the decade average, and has shown improvements in retail, unemployment and construction since the last report.
The report found Tasmania ranked fourth on construction work, while also ranking fifth in home lending, unemployment and business investment.
It showed Tasmania ranked sixth in retail spending, seventh in population growth and eighth in dwelling starts and economic growth.
Unemployed was up 10.1 per cent on its decade average, while construction was up 0.9 per cent.
Home lending in Tasmania was the strongest in the nation in its annual growth.
Economic activity in Tasmania was 10.8 per cent above its decade average.
Population growth was almost the fastest annual pace seen in five years.
Treasurer Peter Gutwein said this was the best report card in nearly five years.
“Tasmania’s annual retail growth now leads all of the states and is just shaded by the ACT as the leading jurisdiction in the country in terms of annual growth of retail trade,” he said.
Annual retail trade was up 3.7 per cent – adjusted for inflation.
Opposition finance spokesman Scott Bacon said the lift in the Tasmanian economy was encouraging, but noted the figures on economic activity and construction of new homes.