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SA business confidence remains highest in nation

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Business confidence in South Australia remains the highest in the nation, according to a new monthly survey, but the state’s business conditions remain below the national average.

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The NAB Monthly Business Survey released on Tuesday shows SA bucking the national trend with business confidence increasing one point to +17, which remains the highest in the nation ahead of Queensland (+15), New South Wales and Victoria (+14) and Western Australia (+7).

Overall business confidence across the country reduced six points to +10 since March, NAB reported.

The bank’s survey covered 400 non-farm businesses from 22 to 29 April.

SA’s business conditions, however, remain among the worst in the nation at +12 despite increasing seven points since March.

The +12 result is only above Tasmania (+11) and level with Victoria (+12). It is behind NSW (+14), WA (+15) and Queensland (+17), and also well below the national average (+15).

SATreasurer Stephen Mullighan touted the survey result as a “strong vote of confidence in the election of the new government”.

“But our work has only just begun, and next month I will hand down the Malinauskas Labor Government’s first budget,” he said in a statement.

“The Malinauskas Labor Government is committed to delivering on our commitments for the future.”

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