NSW is the No. 1 state economy

NSW has kept its position as the number one state economy on the back of new home construction and strengthening retail trade.

A CommSec State of the States report said NSW was propping up the nation with the fastest economic growth rate in the country.

"NSW has improved its position on retail spending to consolidate its position at the top of the economic performance rankings," the report said.

"NSW is on top because population has grown and now home construction is responding to the shortage of accommodation and looks well supported by home construction and infrastructure spending over 2015.

"The state has the fastest annual economic growth rate in the nation, up by 3.9% on a year ago, ahead of Western Australia with 2.6% and ACT 2.5%."

Treasurer Andrew Constance said the CommSec report was another vote of confidence in the NSW economy.


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