Queensland’s growing economic strength has again been confirmed by two separate reports released on Monday.

State Treasurer Tim Nicholls said the CommSec State of the States report and the Deloitte Access Economics Business Outlook both confirm Queensland is one of Australia’s economic powerhouses.

“The CommSec report shows Queensland is the second best performing state on a range of measures, including economic growth, retail spending and construction work," Mr Nicholls said.

“Queensland is also the leading state when it comes to equipment investment.”

Mr Nicholls said the State of the States report also indicated there was strengthening activity in the state’s property sector.

“Encouragingly, the report notes Queensland housing starts are 26.2 per cent higher than a year ago," he said.

Mr Nicholls said the Deloitte Access Economics Business Outlook forecast that Queensland would have the fastest growing state economy over the next two years.

“Deloitte predicts Queensland’s economic growth will continue to outstrip the national average,” he said.

“In particular, they note the potential for growth in the retail and housing construction sectors.”

“These reports, together with the Budget papers, show Queensland is on the cusp of strong growth.

“But in order to secure this growth we have to pay down the accumulated $80 billion debt, which is currently constraining our ability to invest in the new infrastructure this growing state needs.”