Business conditions in NSW are by far the strongest in the nation and well above the national average, today’s NAB Monthly Business Survey shows.

Treasurer Gladys Berejiklian said business conditions in NSW rose by 13 index points to 22 in August – twice the national average.

“This strong result shows NSW is truly the number one State for doing business,”

Ms Berejiklian said.

“It’s pleasing to receive this big tick of approval from businesses who feel they stand the best chance of growth right here in NSW.

“Most importantly, this is great news for jobs as it suggests businesses will be more likely to retain and grow their workforce.”

The NAB survey comes on the back of national accounts figures, which showed NSW continuing to prop up the rest of the nation on economic activity.

The ABS’s GDP data showed a phenomenal 83 per cent of the growth in Australia’s domestic spending on goods and services came from NSW in through the year terms.

“While other states are struggling to keep their heads above water, NSW economic activity is keeping the nation afloat,” Ms Berejiklian said.