The strongEconomicstrong Performance of the States.pdfVIP

The Economic Performance of the States Sam Nicholls and Tom Rosewall* Over the past decade, the mining investment boom in resource-rich states accounted for much of the difference in the pace of economic growth across states. More recently, there has been a gradual rebalancing of growth, though the transition has been uneven. Housing market activity has picked up and this has been accompanied by stronger consumption growth, particularly in New South Wales and Victoria. State labour market conditions have generally softened and the unemployment rate is elevated in all states. Introduction investment has started to decline, though growth of mining activity overall has remained firm supported Economic growth across Australia’s states and by an increase in resource exports. In contrast, territories has been uneven for much of the past growth in the non-mining part of the Australian decade. The mining investment boom underpinned economy has been subdued for several years, in growth in the resource-rich states, while growth in part due to the high level of the exchange rate, the non-mining parts of the economy and those while public spending growth has also declined. states less exposed to mining has been more Nevertheless, growth in non-mining activity has subdued. Business inve