South Australia Economy 1.6% Ahead Of National Increase

South Australia Economy 1.6% Ahead Of National Increase

South Australia Treasurer Tom Koutsantonis

South Australia Economy Outperforms Other States In Latest State Growth Figures

Victor P Taffa

South Australia’s State Final Demand (SFD), which is a measure of growth in spending in the economy, has grown by significantly more than the national average in the March quarter and over the past year, on both trend and seasonally adjusted terms.

State Final Demand in South Australia rose by 1.4 % in the quarter in seasonally adjusted terms the equal strongest performance of the states whereas nationally it rose by 0.3 %. Growth over the year was 3.3 % in South Australia, while it increased by just 1.7 % across the nation.

“These are very positive figures that outstrip most people’s expectations of how our economy is performing.” Treasurer Tom Koutsantonis said.

In trend terms SFD for South Australia rose by 0.9 % in the quarter, whereas nationally it rose by 0.5 %, and was the second strongest performance of the states. Increase over the year was 2.7 %, once again well ahead of the national increase of 1.7 %.