Consumer confidence has surged in South Australia, with the latest BankSA State Monitor Survey reporting a leap of 6.9 points to 113.2, the highest result for four years.
The result, which is well above the survey's 100-point benchmark, shows a high degree of optimism about the state's economy, with respondents citing 'South Australia's long-term outlook for the future' as a primary factor guiding their viewpoint.
Business confidence remained relatively unchanged on 116.3, still comfortably above the 100-point threshold and above the long-term average.
Significantly, consumer confidence is up across metro and rural demographics, across both genders, all occupation groups and all ages except for the 50-64's, with every age group reporting above the 100-point threshold.
Also pleasingly, issues that most influenced respondents who reported higher levels of confidence included several local factors, such as the state's long-term outlook for the future, investment in infrastructure, the state of the South Australian economy and the performance of small businesses.
The primary issue influencing negative responses was the current state of World Affairs, with the state of the world economy, China and other countries' influence on Australia's economy and petrol prices among other factors cited.
As put by Tom Koutsantonis
South Australia's economy continues to forge ahead.
Today's endorsement of consumer and business confidence comes on the heels of Australian Bureau of Statistics figures last week confirming our state had the equal fastest-growing State Final Demand of the mainland states in the past financial year.
I'm particularly heartened that the issues most frequently cited by respondents who reported higher levels of confidence were local ones – most notably, the state's long-term outlook for the future. Investment in infrastructure, the state of the South Australian economy and the performance of small businesses were also in the top ten most cited factors for consumer optimism.
It's yet another positive endorsement for the state's economic direction, with a record number of South Australians employed and the national Business Council of Australia endorsing our state as the best place in the nation to do business for the third year in a row.
