Adelaide business leaders will get the “first response” to key national account figures when the June quarter results are released on Wednesday.

The Reserve Bank governor Glenn Stevens will be speaking at the Committe for Economic Development of Australia’s function at the Hilton Hotel just after midday.

His keynote address on the Australian economy will be his only public address in Adelaide this year.

Stevens told federal parliamentarians last week he is anticipating a subdued quarterly number, and it was inevitable that there will be some payback after the strong start to 2014.

Exports have been a key growth driver in the first three months of the year, but a series of sizeable monthly trade deficits since suggest exports will be a drag on gross domestic product this time around.

This will be confirmed when quarterly international trade numbers are released next Tuesday.

Business investment data also suggests the non-mining sectors of the economy are still not completely filling the vacuum left by a rapidly fading mining investment boom.

At the same time, consumer spending dropped in the June quarter, declining by 0.2 per cent after 1.3 per cent growth in the previous quarter.

It was the weakest result in nearly two years and coincided with a marked downturn in consumer confidence in response to Hockey’s first budget in May.

Confidence has subsequently recovered, suggesting a better tone to future spending.

Whether Stevens focuses on South Australia’s declining contribution to the national economy is not known – his thoughts, however, might spark debate on how SA stops the slide.

CEDA officials told InDaily there are still some tickets available for the Wednesday function.

Details at ceda.com.au