Victorian economy lags

According to the Commonwealth Securities quarterly State of the States report, Victoria is slightly behind the top-performing states due to various economic factors. While it performs well in the labor market, it doesn't lead in other key areas like economic growth or retail trade.

Western Australia and the Australian Capital Territory are currently the best-performing economies in Australia, as per the Commonwealth Securities report. They excel in areas like retail trade and the housing market, respectively.

The report uses eight criteria to benchmark each state's current performance against long-term averages. This comprehensive analysis helps identify which states are leading or lagging in economic performance.

Victoria is commended for its strong labor market, which is one of the key areas where it performs well compared to other states.

South Australia and Tasmania are noted as underperforming compared to other Australian states, according to the Commonwealth Securities report.

Western Australia is recognized for its strong retail trade, which contributes significantly to its status as a top-performing economy in Australia.

The Australian Capital Territory is highlighted for its robust housing market, which is a key factor in its strong economic performance.

The Northern Territory, Queensland, and New South Wales are considered second-tier economies, closely following the top performers, with strengths in economic growth, equipment investment, and labor markets, respectively.