The latest CommSec State of the States report, released today, shows SA’s economy is ranked third in the nation. The result means that South Australia maintains its spot ranked in the top 3 economies in the nation.
This puts South Australia above Queensland, Western Australia, Victoria, the ACT, and the NT. Only Tasmania and New South Wales ranked higher.
South Australia ranked first on population growth. Our nation leading population growth is assessed on current growth relative to the decade average. Currently, population growth in South Australia is 1.58 per cent through the year to the December quarter of 2022, 64.1 per cent above the decade average.
South Australia’s ranking improved in this release on housing finance commitments, with loan activity currently 16.5 per cent above the decade average. Additionally, our rank improved on economic growth, with current growth 27.9 per cent above the decade average.
CommSec also commented that while employment through the year to June increased in all states and territories, South Australia was the best performer with employment 4.7 per cent higher than a year ago.
On almost all measures tracked by the State of the States report, South Australia continues to operate well above the decade average.
As put by Stephen Mullighan
It is pleasing to see South Australia’s continued economic strength recognised by CommSec.
This report confirms that certain economic indicators in South Australia continue to show resilience in the face of economic headwinds.
This is a positive sign as we come into an uncertain period that is likely to weigh on national, and subsequently South Australian economic activity.
Given our significant population growth, our “A Better Housing Future” plan provides significant funding to address the housing issues we are currently experiencing.
The Malinauskas Government is continuing to invest in housing to ensure that supply shortages continue to be addressed.
