Tasmania's economy has climbed to second on a national ladder, largely due to strong figures for home building and home buying.
The state's performance was rated second to Victoria among the eight states and territories in the latest CommSec State of the States report.
Tasmania was ranked third three months earlier, and had pushed ahead of New South Wales since then.
The report measures the economic performance of states and territories based on their own past performances, and rates how well or badly they are faring compared to their "normal" performance.
Tasmania also rated well in the latest report for relative population growth and relative economic growth.
It was ranked first on three of the eight key economic indicators the report assessed, with Victoria leading on four.
Tasmania was tops for relative population growth, dwelling starts and equipment investment and rated second for housing finance.
State Treasure Peter Gutwein on Wednesday said Tasmania's economy was the fastest growing in the nation.
CommSec rated Tasmania fifth for relative economic growth and fourth for retail spending.
It estimated retail spending in the June quarter was 10.5 per cent stronger than the decade average.
Tasmania was a clear leader on equipment investment, which was 28.3 per cent stronger than its decade average.
However, new equipment investment was 6.6 per cent down in the June quarter compared to a year earlier.
Tasmanian home lending was up by 12.9 per cent on its decade average, behind only the ACT.
"Housing finance is not just a leading indicator for real estate activity and housing construction, but it is also a useful indicator of activity in the financial sector," the report said.
Among other indicators, Tasmania was strongest for sales of new vehicles - well ahead of every other jurisdiction - and had the second strongest annual wages growth (2.4 per cent).