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Commsec report confirms some states doing better than others

A new report has confirmed that while wa is doing well  the rest of the country may be struggling 16000646 800483278 0 0 7030824 300

New data from Commsec has confirmed that while Australians living in WA may be prospering, the rest of the country isn't doing as well.

The State of the States report, released July 20, sought to assess all eight Australian territories based on factors such as economic growth, retail spending, unemployment and population growth.

The results showed that while WA has seen continued prosperity brought on by the resources boom, other states such as NSW and South Australia have languished behind.

"Western Australia is clearly Australia's best-performing economy," said CommSec's chief economist and author of the study Craig James.

"So much so, that it is probably more appropriate to look at two concepts to measure the national economy - Australia, and Australia less Western Australia."

While Victoria was placed in the middle ranking of economies alongside ACT, Queensland and the Northern Territory, Commsec suggested that its position could slip due to the impact of a softer job market.

If you live outside of Western Australia and are finding that money is tight at the moment, than it could be worth taking the time to assess your current utility bills.

By ensuring you are with the right electricity and gas supplier for your needs, you can cut down on monthly expenditure, something which is especially important if you consider the way prices of gas and electricity have gone up in recent months. 

Posted by Callum Fleming