Victoria has surpassed Tasmania to become Australia’s best-performing state as its economy topped the country for the first time since April 2020.
According to the latest quarterly State of the States report from Australia’s largest online stockbroking firm CommSec, Victoria ranked first among the states and territories for retail spending, which soared by 18.5 percent in the March quarter following the removal of COVID-19 lockdowns.
The state also had the most robust job market in Australia, with unemployment standing at 3.2 percent in June, which was 43.2 percent lower than its decade average.
Additionally, Victoria ranked second in construction work and housing finance categories and third in dwelling starts….