SYDNEY, March 2 (Xinhua) -- The Australian state of New South Wales has stayed at the top of the economic rankings, with figures on Thursday showing the state remains the nation's best economy.
The National Accounts data from the Australian Bureau of Statistics, showed New South Wales posting 4.1 percent State Final Demand (SMD) growth to the December quarter, which was almost four times the growth of the other Australian states.
New South Wales also had a strong result in private business investment, reporting a 5 percent increase, with Victoria coming in second place with a 0.1 percent increase.
New South Wales Treasurer Dominic Perrottet said the growth is leading to "exciting opportunities for business" throughout the state.
"The business community is showing huge confidence in our state's future as they grow and create jobs," Perrottet said.
Investment in housing was also up for the state, with a 5.2 percent increase for the December quarter, and 22.1 percent over the course of the last year.
It wasn't all good news though, with housing approvals down for the month of January, which saw private sector house approvals in trend terms falling by 2.2 percent in New South Wales, while dwelling approvals were down by 4.8 percent statewide.
