South Australia Shadow Treasurer Iain Evans

CommSec Report – SA Second Bottom

Victor P Taffa

South Australia is at the bottom of all mainland states in the economic rankings, according to the CommSec report stated released today.

South Australia beats only Tasmania in the economic ranking.

The report highlights housing finance as a major weakness in the South Australian economy.

This coincides with recently released ABS figures showing housing finance commitments were in decline.

The report revealed SA is the worst performing state for housing finance commitments, which were 27 % below the decade long average.

The CommSec report also shows SA has the lowest retail spend of all mainland states and the lowest equipment spend of all states.

“After a decade of Labor, the South Australian economy is not keeping up with the rest of Australia.” Shadow Treasurer Iain Evans said.

“Under Labor, South Australia has the fastest growing debt and the second lowest economic performance in the nation.”