SA lags on economic growth

Retail spending was weak in South Australia.
Retail spending was weak in South Australia.

Western Australia remains the top performing economy in the nation, while South Australia is sitting in second-to-last position, according to the quarterly “State of the States” report.

The Commonwealth Securities report found that while SA was strong on construction work, it lagged on economic growth, retail spending and equipment investment.

The ACT has jumped into second position as its jobs market improves. Although WA remains at the top of the ladder, it has seen some slippage in indicators such as unemployment.

This has also occurred in the Northern Territory, which declined to third spot after it was leapfrogged by the ACT where the population has grown to drive housing activity and a stronger job market.

Report author CommSec’s chief economist Craig James says while new investment in the mining and engineering construction sectors is easing across the country, the housing sector is a source of new growth, especially in regions where population growth is strongest.

“All economies should lift, once the uncertainty of the federal election is finally out of the way later in 2013,” Mr James said.

Each quarter CommSec assesses the economic fortunes of the states and territories by studying eight key indicators – economic growth, retail spending, equipment investment, unemployment, construction work done, population growth, housing finance and dwelling commencements.

WA comes out top on three of the eight criteria – housing finance, retail spending and equipment investment – is still second on three other indicators, third on dwelling starts and fifth on unemployment.

There is little separating the nation’s three most populous states in terms of relative economic performance.

But NSW claims fourth spot on the overall rankings, from Victoria and Queensland, by having the strongest jobs market.

Then there is a gap to South Australia and then another gap to Tasmania, which underperformed on all eight indicators.

HOW THE STATE AND TERRITORY ECONOMIES STACK UP

*Western Australia strong on retail spending but weak on employment

*ACT strong on population growth but weak on retail spending

*NT strong on economic growth but weak on employment

*NSW strong on jobs but weak on economic growth

*Victoria strong on housing finance but weak on construction work

*Queensland strong on retail spending but weak on population growth

*South Australia strong on construction work but weak on retail spending

*Tasmania strong on housing but weak in other areas.

 Next
 Prev

Highlights

Richardson: Atkinson blinded by his first love
Richardson: Atkinson blinded by his first love

Comment | Generally speaking, Mick Atkinson isn’t one to change his mind.

But he has been known to bow to pressure occasionally, when the weight of public opinion and political logic weigh against him.

Back in 2010, for instance, he was forced to abandon laws forcing people making online political Full Story »

What’s on in South Australia
What’s on in South Australia

WEEKEND PICKS | This weekend’s Adelaide happenings include the opening of the Fashion Icons exhibition, Missy Higgins’ OZ concert, CheeseFest and a vintage fashion expo.

You can also catch Opera SA’s new production of Otello, State Theatre play Kryptonite, Bangarra Dance Theatre’s Kinshi Full Story »

Lunch review: The Penang Restaurant
Lunch review: The Penang Restaurant

LUNCH REVIEW | On recommendation that The Penang offers very good, authentic Malaysian Chinese food, we decided to revisit the restaurant for a lunch review.

The Penang has been located next to the The Original Pancake Kitchen in Gilbert Place for the past 20 years, and although ownership has rece Full Story »

Whiplash a stroke of genius
Whiplash a stroke of genius

FILM REVIEW | “Oh my dear God! Are you one of those single tear people?”

That’s how sadistic music instructor Terrence Fletcher (JK Simmons) addresses his newest pupil, Andrew, played by actor Miles Teller (Divergent).

This is only the after-burn of one of Fletcher’s brandings, but is typica Full Story »

Eyewear competition: the Judges’ Choice
Eyewear competition: the Judges’ Choice

UniSA interior design student Patrick Shepheard’s original spectacles design, “Blend”, has taken out the Judges’ Choice Award in InDaily‘s eyewear design competition.

Shepheard now has the chance to have his glasses manufactured for Health Partners stores statewide.

Hi Full Story »

Spring Racing Carnival launch party
Spring Racing Carnival launch party

The South Australian Jockey Club launched the Spring Racing Carnival with a party at Morphettville last week, with the 18ct gold 2014 Emirates Melbourne Cup trophy on display.

Full Story »
Glenelg
Glenelg

This luxury, beach-side apartment boasts spectacular views. The Saltram Towers penthouse has seven main rooms, a new open-plan kitchen and family room, and a wrap-around balcony. It also features three bedrooms, including a master bedroom with walk-in robe and en suite bathroom.

More pictures and i Full Story »

The Breakfast Club
The Breakfast Club

THEATRE REVIEW | Wow – it has to be unusual that an amateur theatre adaptation of a classic movie is as good as (if not better than) the original.

Having refreshed my memory by recently watching John Hughes’ 1985 coming-of-age comedy-drama starring Emilio Estevez, Judd Nelson, Molly Ringwald Full Story »

Warner’s swift run chase
Warner’s swift run chase

CRICKET | A typically aggressive knock of 75 not out from David Warner has given Australia hope of saving the first Test against Pakistan.

Pakistan posted a formidable first-innings total of 454 shortly after tea on the second day of play in Dubai.

Australia attacked from the outset in their reply, Full Story »

Partners

Flinders joins Finland’s Digital Health Revolution
Flinders joins Finland’s Digital Health Revolution

Have you ever wondered how much information about your health is being collected by doctors, pharmacies, laboratories, and even grocery stores?

Understanding the best way to relay personal health information back to the public to improve their health and wellbeing is an emerging research trend which Full Story »

Flinders prepares Ebola guidelines for mass events
Flinders prepares Ebola guidelines for mass events

Guidelines covering mass gatherings worldwide in the wake of the Ebola epidemic are being developed by Flinders University.

Flinders University’s World Health Organization (WHO) Collaborating Centre for Mass Gatherings and High Consequence Events has been enlisted by the WHO to prepare urgent stra Full Story »

Professionals “need common approach to children”
Professionals “need common approach to children”

The agencies that provide services to young children will be far more effective when the education that professionals receive to prepare them for practice has a common, national approach, a Flinders academic says.

School of Nursing Senior Lecturer, DrJulian Grant is leading a multi-institutional tea Full Story »