Tasmania has been named the country's best performing economy for the fourth consecutive quarter in CommSec's January State of the States report.
But the state's Opposition has pointed out performance measurements are positive over the decade-average and do not honestly reflect last year's economic struggles.
The report measured the state's economy against eight key indicators: economic growth, retail spending, equipment investment, unemployment, construction work, population growth, housing finance and dwelling starts.
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Tasmania was ranked first on relative population growth, equipment investment, dwelling commencements and retail trade.
The state lost three places on housing finance over the quarter but moved up a place on construction work and relative unemployment.
The lowest ranking was for the economic growth indicator.
Retail spending in Tasmania was 23 per cent above decade-average levels in the September quarter.
The state's unemployment rate was 7.6 per cent above the decade-average.
Construction work was 11.2 per cent above the decade-average; second to Victoria which was 18.8 per cent above the mark.
CommSec found Tasmania was the strongest jurisdiction in terms of relative population growth with the 1.12 per cent annual growth rate.
Tasmanian home loans were up 52.3 per cent on the long-term average.
Premier Peter Gutwein said CommSec found that equipment investment was up 7.7 per cent on the decade-average which demonstrated business owners were willing to invest after the disruption caused by the coronavirus pandemic.
"These gains do not happen by accident," he said.
"We were able to use our balance sheet as an economic stabiliser and deliver the largest economic and social support package in the nation as a proportion of our economy."
Labor's finance spokesman David O'Byrne said CommSec had failed to recognise Tasmania's performance last year in construction, employment, housing finance, population growth and dwelling starts was worse than the nationwide average.
"This means that Tasmania was the second worst performing economy - along with NSW - over the last year with only Victoria doing worse," he said.
"The CommSec Report also highlights that Tasmania was the only state to see a fall in real wages over the last year."