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Some positives for low-ranked SA economy

Apr 20, 2015
Photo: Nat Rogers/InDaily

Photo: Nat Rogers/InDaily

South Australia’s economy has been ranked second-to-bottom out of Australia’s states and territories.

The latest Commsec “State of the States” quarterly report placed SA at seventh on the economic performance rankings, only ahead of Tasmania.

SA was ranked third for population growth and business investment, but seventh for economic growth, retail trade and housing finance.

“In South Australia, annual population growth is higher than a year ago and unemployment is middle-ranked,” the report said. “But the state under performs on retail spending and home building and buying.”

The state was bottom of the table for dwelling starts.

“South Australian dwelling starts were 0.3 per cent below decade averages,” the report said. “And even in the December quarter starts were only 0.1 per cent higher than a year earlier.”

The report found SA had improved its position on retail trade, equipment investment and construction work.

SA also performed well against past performance in the latest unemployment figures, with its 6.7 per cent jobless rate almost 22 per cent above the decade-average.

Read the full report here.

 

 

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