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Subdued growth for SA, while cost of living crisis eases
South Australia's economy grew weakly in 2023/24 due to capacity constraints and subdued household spending, according to the latest SACES Economic Briefing Report from SACES. While the labour market remained resilient with low unemployment, households faced severe cost-of-living pressures, with real per capita disposable incomes declining for a second consecutive year. Looking ahead, a modest recovery in household spending and easing inflation are expected, but challenges like a smaller winter grain crop and global trade risks may dampen growth prospects.
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SA’s labour force participation likely to worsen
Current pressures on South Australia’s labour force and housing markets are likely to worsen over the next few decades due to the rapid ageing of the population, according to economists from the University of Adelaide’s SA Centre for Economic Studies (SACES).
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Significant slowdown in economy amidst weak spending
The South Australian economy has lost momentum over the past six months with key economic indicators showing weaker trends, according to the latest Economic Briefing Report from the SA Centre for Economic Studies.
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