The Deloitte Access Economics (DAE) Investment Monitor and Business Outlook report said a record investment in health, education, and infrastructure has helped accelerate NSW past all other states and territories.
A key driver of economic growth and performance was the NSW Government’s spending on infrastructure, including major projects such as Badgery’s Creek Airport and Barangaroo.
NSW Treasurer Dominic Perrottet said the report showed NSW is reaping the rewards of the state’s strong fiscal and economic management.
“Over the next four years the government is investing a record $73.2 billion into new hospitals, schools, roads, public transport and other vital infrastructure across the state,” said Mr Perrottet.
“More people are now calling our great state home; increasing overall supply will help to improve housing affordability.”
The report also revealed that NSW is outperforming the rest of Australia in commercial construction.