I've been suggesting on this blog for the past couple of years that with an infrastructure and dwelling deficit New South Wales was set to become the strongest economy in Australia.
And now it is indeed confirmed as so, according to Commsec's latest quarterly report.
On the flip side, South Australia, Tasmania and the Australian Capital Territory (ACT) are laggards, bringing up the rear for the Australian economy.
Well worth a read from the Sydney Morning Herald:
"It has taken more than a decade but NSW has re-emerged as Australia's strongest state economy.
The key factor in NSW's economic resurgence has been the strength of the housing sector. New dwelling commencements in NSW were more than 36 per cent above the decade average, said the "State of the States" report by the Commonwealth Bank's stockbroking arm, Commsec.