Queensland has retained its position as a mid-ranked performer among all of the state and territory economies.

CommSec's latest State of the States report shows Western Australia has retained its place as the best performing economy, while Tasmania is still in last place.

The report analyses eight key indicators, including economic growth, retail spending, unemployment and investment.

CommSec economist Savanth Sebastian says Queensland was particularly weak in the categories of population growth and unemployment.

"They've had a significant amount of lay-offs in the public sector and that's having an impact to some degree in curbing the retail story," he said.

"The areas of strength for Queensland is no doubt equipment investment and that's been driven by infrastructure and mining.

"Over the coming year, Queensland will start to regain a bit of ground, but it is going to be a slow, patchy recovery that takes place across the Queensland economy.

Queensland Treasurer Tim Nicholls says the state has improved its position to equal third.

"We're seeing our gross state product 17.7 per cent higher over the decade average," he said.

"Queensland is coming third with its retail trade higher and second with our equipment investment, so these are good signs.

"They're green shoots of a recovery in the Qld economy.

"We believe our policy of cutting green and red tape are giving people the confidence to go out and spend."