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Tassie on top: Commsec

Moneys

Tasmania is ranked as Australia's strongest economy in the latest Commsec snapshot, coming in at number one on four measures including retail spending.

The latest State of the State report has highlighted Tasmania's retail trade, which is about 15 per cent above the decade average; it's being underpinned by factors like increased home building. 

Tasmania also came in first on relative unemployment and population growth, as well as equipment investment.

Tasmania's real value of commercial, residential and engineering work is up nearly 19 per cent on the decade average. 

Premier Peter Gutwein has welcomed the findings, vowing to rebuild a stronger Tasmania.

"We have not sugar-coated the impact COVID-19 has had on our state, however, the strong position of our economy and budget prior to the pandemic is a pillar of strength to support our recovery," he said.