NSW has again taken out the top spot as the nation's best performing economy, but now has to share the podium with the Northern Territory.
After knocking Western Australia off its perch last quarter, following a three-year hiatus from dominance, NSW has maintained its position for the second time in a row, according to CommSec's quarterly State of the States report.
WA has slipped to third place, followed by Victoria in fourth and Queensland in fifth.
CommSec ranks the states and territories on eight key measures, including economic growth, unemployment, retail spending, housing finance and population growth.
NSW came out on top thanks to population growth and healthy home building responding to a shortage of housing.
The state should be well supported by house building and infrastructure spending over 2015, CommSec chief economist Craig James said.
Meanwhile, the NT economy was being driven by huge gas projects while fading mining construction was weighing on the WA economy.
"There will always be a changing of the guard in terms of economic performance as relative economic growth drivers variably strengthen or fade," Mr James said.
"The end of the mining construction boom should lead to more balanced growth in Western Australia."
Tasmania was unlucky last on the list but there are brighter signs emerging there, the report said, with the trend jobless rate at 28-month lows in December and growth in population and construction work.
HOW THE STATES FARED
1. NSW - strength in retail spending, weakness in general construction
1. NT - strength in unemployment, weakness in population growth
3. WA - strength in home lending, weakness in business investment
4. VIC - strength in home lending, weakness in equipment spending
5. QLD - strength in business investment, weakness in unemployment
6. ACT - strength in housing finance, weakness in unemployment
7. SA - strength in population growth, weakness in retail spending
8. TAS - strength in unemployment, various weaknesses
Source: CommSec
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