WA and NT lead economic growth race Mining states and territories led the way for economic growth last financial year. At the top of the list was Northern Territory, where gross state product (GSP) was up 6.5 per cent in real terms from the previous year. Close behind was Western Australia, with growth of 5.5 per cent in 2013/14. The three most populous states dawdled however, with growth of about two per cent. South Australia, Tasmania and the ACT each recorded growth of around one per cent. Over the decade to 2013/14, the fasting growth was achieved by WA, at an annual average of 4.9 per cent, while Tasmania was weakest at 1.4 per cent, compared with a national average of 2.8 per cent. The figures from the Australian Bureau of Statistics show Australia's GDP grew by 2.5 per cent in 2013/14, which is a little less than the 3.1 per cent reported with the June quarter national accounts, published nearly three months ago. That suggests some minor downward revisions to the quarter by quarter trend in growth when the September quarter figures are reported early in December. GSP is the state of territory equivalent of gross domestic product (GDP), a measure of the total value of goods and services produced within the region, adjusted for the effect of price changes. NT: 6.5pct (4.2pct average for the decade) WA: 5.5pct (4.9pct) Qld: 2.3pct (3.5pct) NSW: 2.1pct (2.0pct) Vic: 1.7pct (2.4pct) SA: 1.3pct (2.1pct) Tas: 1.2pct (1.4pct) ACT: 0.7pct (2.7pct) National: 2.5pct (2.8pct)