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For the first time in more than a decade, Western Australia has claimed top spot as the country’s best-performing economy, according to the CommSec State of the States report, released today.

The report tracks eight key economic indicators; economic growth, retail spending, unemployment, population growth, equipment investment, construction work, housing finance and dwelling starts.

WA led in three of the categories including retail spending, unemployment and population growth, securing its position as the top state or territory for the quarter.

“Western Australia’s robust economic fundamentals, especially its low unemployment and strong population growth has fuelled nation-leading consumer spending, pushing the state to the top of the leaderboard for the first time in a decade,” the report read.

“WA is well positioned for sustained future performance; however, the competition remains intense, particularly among the top three states with Queensland moving quickly …