NSW economy trumping all other states
THE New South Wales economy has once again been declared the strongest in the nation, as today's ANZ Stateometer showed NSW continues to drive national economic growth.
The report found NSW activity is "trumping all other states and territories", with the NSW index at a record level.
"It is so pleasing to see NSW again outshining the other states when it comes to economic performance," NSW Treasurer Gladys Berejiklian said.
According to ANZ, annual growth in economic activity in NSW increased to its highest level over the September quarter, with indicators for household consumption, business activity and the labour market all positive.
"This is further evidence that the policies and strong financial management of the NSW Liberals & Nationals have been in the best interests of the State," Ms Berejiklian said.
The report noted that economic activity in NSW performed well over 2015, reflecting solid growth in the services sector.
ANZ also said that much of the current strength in NSW is due to residential construction.
"Despite the continued success of our economy, we understand that there are challenges on the horizon," Ms Berejiklian said.
"That is why the NSW Government will keep working hard to build much needed infrastructure, support jobs growth and keep the economy moving."