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ABOUT THIS PUBLICATION
This publication provides an up-to-date overview of the South Australian economy and contrasts the State's performance with that of the Australian economy. It provides details of movements in a range of economic and social indicators.
OVERVIEW
The data in this Overview are presented in trend terms, unless otherwise stated.
Included in this overview are Statistical Summary tables showing comparisons between South Australia and Australia for a variety of economic and social indicators. Also included is a State Summary, showing the performance of all States and Territories for selected indicators.
Further detail on all the indicators shown below can be obtained by accessing the latest Data Cube attached to this publication. This Data Cube is available within the Related Links section at the bottom of this page.
INTERNATIONAL TRADE
The value of South Australian merchandise exports (in original terms) for the month of January 2004 was $515.9m. This was an decreasee of 28.0% from the previous month and 8.8% less than the value of exports in January 2003 ($565.5m).
The value of South Australian merchandise imports (in original terms) for January 2004 was $392.7m. This was a decrease of 5.5% from the $415.4m recorded in December 2003 and 11.5% less than the January 2003 figure of $443.5m.
Merchandise Exports and Imports
- See International Merchandise Imports, Australia (Timeseries, cat. no. 5439.0), International Trade in Goods and Services, Australia (cat. no. 5368.0)
CONSUMPTION AND INVESTMENT
In current price terms, National Accounts figures for the December qtr 2003 showed that state final demand in South Australia increased by 1.1% from the September qtr ($14.4b) to $14.6b. This was also a 7.1% increase on the December qtr 2002 figure of $13.6b.
Household consumption expenditure grew by 1.3% from the September qtr 2003 to be $8.7b for the December qtr 2003. Private gross fixed capital formation was $2.9b for the December qtr 2003, an increase of 0.6% from the September qtr 2003 and a rise of 15.4% from the same quarter last year.
Retail Turnover continued its steady increase, with a positive movement of 1.0% from December 2003 ($1,143.6m) to $1,1555.0m in January 2004. In the twelve month period from January 2003, total retail turnover increased by 6.0% from $1,089.1m.
Retail Turnover
- See Retail Trade, Australia (cat. no. 8501.0)
February 2004 saw a total of 5,213 new motor vehicle sales - a decrease of 0.4% on the previous month's figure of 5,235 vehicles. However, the February figure is 6.8% higher than the new vehicles sales recorded in February 2003 (4,879).
New Motor Vehicle Sales
- See Sales of New Motor Vehicles, Australia (cat. no. 9314.0.55.001)
HOUSING
In January 2004 the estimated total number of dwelling units approved in South Australia was 926, slightly lower than December 2003 (939) and 38 less than the twelve month high recorded in September 2003 (964). However this figure was still 42 more than for the same period last year.
Dwelling Units Approved
- See Building Approvals, Australia (cat. no. 8731.0)
CONSUMER PRICE INDEX
The all groups consumer price index in Adelaide for the December quarter 2003 was 146.2, an increase of 3.3% on the level recorded for the same period in 2002 and up 0.6% on the September quarter 2003.
Consumer Price Index
- See Consumer Price Index, Australia (cat. no. 6401.0)
LABOUR FORCE AND DEMOGRAPHY
The estimate of employed persons in South Australia was 713,500 in February 2004, lower than the peak in June 2003 (719,800) but similar to the level of twelve months ago (711,500). The total number of persons employed full-time in South Australia was 483,600 in February 2004 and was lower than the February 2003 estimate of 500,500.
Employed Persons
The estimate of the unemployment rate for South Australia was 6.8% in February 2004 and was higher than the February 2003 estimate of 6.2%. The estimate of the participation rate in South Australia was 61.5% in both February 2004 and February 2003, and was lower than the June 2003 estimate of 62.1%.
Unemployment Rate - Trend
- See Labour Force, Australia (cat. no. 6202.0)
FINANCIAL MARKETS
The value of secured housing finance commitments (excluding alterations and additions, and including refinancing) was $649.6m in January 2004. This was an decrease of 1.6% from the previous month and an increase of 22.7% over the value of commitments in January 2003 ($529.3m).
Secured Housing Finance Commitments (a)
(a) Excludes alterations and additions. Includes refinancing.
- See Housing Finance for Owner Occupation, Australia (cat. no. 5609.0)
STATISTICAL SUMMARY Part 1
 | | South Australia
| | Australia
| | |
| | | % change from
| | | % change from
| | |
| Indicator | Period | Number | Previous
period | Same period
previous year | | Number | Previous
period | Same period
previous year | SA as a % of Australia | Source
index |
| State accounts | | | | | | | | | | |
| Domestic final demand | | | | | | | | | | |
| Chain volume measures trend ($m) | Dec qtr 03 | 14,061 | 0.6 | 5.3 | | 199,540 | 1.7 | 5.9 | 7.0 | 1 |
| Private final consumption expenditure | | | | | | | | | | |
| Current prices trend ($m) | Dec qtr 03 | 8,744 | 1.3 | 5.3 | | 119,673 | 1.8 | 6.5 | 7.3 | |
| Chain volume measures trend ($m) | Dec qtr 03 | 8,366 | 0.8 | 3.4 | | 116,240 | 1.6 | 5.4 | 7.2 | 1 |
| Private gross fixed capital formation | | | | | | | | | | |
| Current prices trend ($m) | Dec qtr 03 | 2,887 | 0.6 | 15.4 | | 43,382 | 3.6 | 12.5 | 6.7 | |
| Chain volume measures trend ($m) | Dec qtr 03 | 2,849 | 0.1 | 14.6 | | 42,244 | 2.9 | 10.4 | 6.7 | 1 |
| Compensation of employees | | | | | | | | | | |
| Current prices trend ($m) | Dec qtr 03 | 5,943 | 0.2 | 3.5 | | 93,901 | 1.0 | 5.3 | 6.3 | |
| International accounts | | | | | | | | | | |
| Exports ($m) | Jan 04 | 515.9 | -28.0 | -8.8 | | 7,902.2 | -14.3 | -11.5 | 6.5 | 2 |
| Imports ($m) | Jan 04 | 392.7 | -5.5 | -11.5 | | 9,942.3 | -9.6 | -8.8 | 4.0 | 2 |
| Consumption and investment | | | | | | | | | | |
| Retail turnover | | | | | | | | | | |
| Current prices original ($m) | Jan 04 | 1,151.4 | -21.3 | 6.1 | | 15,751.8 | -21.6 | 8.7 | 7.3 | 3 |
| Current prices trend ($m) | Jan 04 | 1,155.0 | 1.0 | 6.1 | | 15,809.5 | 0.5 | 8.8 | 7.3 | 3 |
| Chain volume measures original ($m) | Dec qtr 03 | 3,719.3 | 19.4 | 12.4 | | 51,213.2 | 17.7 | 13.2 | 7.3 | 3 |
| New motor vehicle sales | | | | | | | | | | |
| Original ($m) | Feb 04 | 5,059 | 16.7 | 6.4 | | 75,877 | 17.1 | 13.7 | 6.7 | 4 |
| Trend ($m) | Feb 04 | 5,213 | -0.4 | 6.8 | | 77,590 | 0.1 | 6.5 | 6.7 | 4 |
| Private new capital expenditure | | | | | | | | | | |
| Current prices original ($m) | Dec qtr 03 | 1,075 | 10.6 | -7.2 | | 13,778 | 8.0 | -4.3 | 7.8 | 5 |
| Current prices trend ($m) | Dec qtr 03 | 991 | -5.1 | 5.5 | | 13,088 | 0.8 | 5.0 | 7.6 | 5 |
| Private new capital expenditure ($m) | 2002-03 | 4,020 | 29.1 | .. | | 51,093 | 15.1 | .. | 7.9 | 5 |
| Tourist accommodation takings ($m) | Sep qtr 03 | 60.5 | 6.7 | 10.4 | | 1,373.5 | 18.5 | 11.0 | 4.4 | 6 |
| Production | | | | | | | | | | |
| Dwelling unit approvals | | | | | | | | | | |
| Original (no.) | Jan 04 | 692 | -41.9 | -11.8 | | 11,922 | -15.1 | -5.8 | 5.8 | 7 |
| Trend (no.) | Jan 04 | 926 | -1.4 | 4.8 | | 14,419 | -2.1 | 2.0 | 6.4 | 7 |
| Dwelling units commenced (no.) | Sep qtr 03 | 2,581 | 4.7 | -4.8 | | 44,195 | 13.7 | -7.9 | 5.8 | 8 |
| Value of non-residential building approvals- trend ($m) | Jan 04 | 113.9 | -5.6 | 43.1 | | 1,336.6 | -0.5 | -1.4 | 8.5 | |
| Value of total building activity | | | | | | | | | | |
| Commenced ($m) | Sep qtr 03 | 702.2 | 6.5 | 6.7 | | 13,003.2 | 10.4 | 3.9 | 5.4 | 8 |
| Work done ($m) | Sep qtr 03 | 676.2 | 5.1 | 11.3 | | 13,027.4 | 10.2 | 9.8 | 5.2 | 8 |
| Work yet to be done ($m) | Sep qtr 03 | 1,096.3 | 5.4 | 28.8 | | 21,511.0 | 2.9 | 20.4 | 5.1 | 8 |
| Value of engineering construction work done ($m) | Sep qtr 03 | 458.9 | -9.2 | 49.8 | | 6,310.4 | -9.2 | 41.5 | 7.3 | 9 |
| Manufacturing production | | | | | | | | | | |
| Red meat trend (tonnes) | Dec qtr 03 | 54,882 | -1.3 | -12.3 | | 729,760 | 0.2 | -7.7 | 7.5 | 11 |
| Mineral exploration expenditure (other than for petroleum) ($m) | Dec qtr 03 | 9.6 | 3.2 | -4.0 | | 199.5 | 11.0 | 3.5 | 4.8 | 12 |
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STATISTICAL SUMMARY Part 2
| | South Australia
| | Australia
| | |
| | | % change from
| | | % change from
| | |
| Indicator | Period | Number | Previous
period | Same period
previous year | | Number | Previous
period | Same period
previous year | SA as a % of Australia | Source index |
| Prices (a) | | | | | | | | | | |
| CPI- All groups (index no.) | Dec qtr 03 | 146.2 | 0.6 | 3.3 | | 142.8 | 0.5 | 2.4 | .. | 13 |
| Price index of materials used in house building (index no.) | Dec qtr 03 | 137.3 | -0.1 | 1.6 | | 133.6 | 0.5 | 2.7 | .. | 14 |
| Price index of materials used in building other than houses (index no.) | Dec qtr 03 | 125.7 | 0.1 | 1.9 | | 126.7 | 0.3 | 3.2 | .. | 14 |
| Price index of established houses (index no.) | Dec qtr 03 | 220.4 | 6.4 | 24.2 | | 245.1 | 6.0 | 18.9 | .. | 15 |
| Price index of project homes (index no.) | Dec qtr 03 | 164.9 | 2.6 | 6.0 | | 153.7 | 1.7 | 7.9 | .. | 15 |
| Labour force and demography | | | | | | | | | | |
| Population (resident at end qtr) ('000) | Sep qtr 03 | 1,529.4 | 0.1 | 0.6 | | 19,941.3 | 0.3 | 1.3 | 7.7 | 16 |
| Natural increase of the population ('000) | Sep qtr 03 | 1.3 | -6.1 | 39.3 | | 27.7 | -12.7 | 12.1 | 4.8 | 16 |
| Labour Force | | | | | | | | | | |
| Original ('000) | Feb 04 | 768.1 | 0.6 | 0.8 | | 10,209.6 | 1.2 | 0.6 | 7.5 | 17 |
| Trend ('000) | Feb 04 | 765.6 | 0.0 | 1.0 | | 10,166.7 | 0.1 | 0.7 | 7.5 | 17 |
| Employed persons | | | | | | | | | | |
| Original ('000) | Feb 04 | 710.8 | 0.5 | 0.2 | | 9,540.0 | 0.9 | 0.9 | 7.5 | 17 |
| Trend ('000) | Feb 04 | 713.5 | -0.1 | 0.3 | | 9,580.9 | 0.1 | 1.2 | 7.4 | 17 |
| Participation rate | | | | | | | | | | |
| Original (b) (%) | Feb 04 | 61.7 | 0.3 | -0.1 | | 63.7 | 0.6 | -0.6 | .. | 17 |
| Trend (b) (%) | Feb 04 | 61.5 | 0.0 | 0.0 | | 63.5 | 0.0 | -0.5 | .. | 17 |
| Unemployment rate | | | | | | | | | | |
| Original (b) (%) | Feb 04 | 7.5 | 0.1 | 0.6 | | 6.6 | 0.4 | -0.2 | .. | 17 |
| Trend (b) (%) | Feb 04 | 6.8 | 0.1 | 0.6 | | 5.8 | 0.0 | -0.4 | .. | 17 |
| Job vacancies ('000) | Nov 03 | 4.0 | -37.4 | -22.6 | | 105.7 | -2.9 | 10.0 | 3.8 | 18 |
| Industrial disputes ('000 working days lost) | Dec 03 | 0.3 | -62.5 | -40.0 | | 37.7 | -0.5 | 97.4 | 0.8 | 19 |
| Income | | | | | | | | | | |
| Average weekly earnings (full-time; ordinary time) | | | | | | | | | | |
| Original ($) | Nov qtr 03 | 867.80 | 0.5 | 6.0 | | 938.40 | 0.9 | 5.5 | .. | 20 |
| Trend ($) | Nov qtr 03 | 867.10 | 0.2 | 5.3 | | 939.60 | 1.1 | 5.6 | .. | 20 |
| Wage cost index (total hourly rate excluding bonuses) | | | | | | | | | | |
| (c) index no. | Dec qtr 03 | 123.0 | 1.2 | 3.8 | | 122.7 | 0.9 | 3.7 | .. | 21 |
| Financial markets | | | | | | | | | | |
| Secured housing finance (d) | | | | | | | | | | |
| Original ($m) | Jan 04 | 539.7 | -24.8 | 16.2 | | 8,067.5 | -25.5 | 6.4 | 6.7 | 22 |
| Trend ($m) | Jan 04 | 649.6 | -1.6 | 22.7 | | 10,430.1 | -2.6 | 19.1 | 6.2 | 22 |
| Finance commitments | | | | | | | | | | |
| Personal ($m) | Jan 04 | 360.9 | -23.0 | 0.9 | | 5,665.7 | -16.6 | 9.8 | 6.4 | 23 |
| Commercial ($m) | Jan 04 | 704.5 | -60.2 | -20.7 | | 17,225.7 | -43.4 | 7.0 | 4.1 | 23 |
| Lease ($m) | Jan 04 | 12.3 | -31.3 | -19.6 | | 364.2 | -36.0 | -14.1 | 3.4 | 23 |
| Interest rates (b) | | | | | | | | | | |
| Banks - new housing loans (%) | Feb 04 | .. | .. | .. | | 7.05 | 0.0 | 0.50 | .. | 24 |
| Banks - business loans | | | | | | | | | | |
| Small, medium businesses (e) (%) | Feb 04 | .. | .. | .. | | 8.85 | 0.0 | 0.50 | .. | 24 |
| Large business (%) | Feb 04 | .. | .. | .. | | 8.85 | 0.0 | 0.50 | .. | 24 |
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(a) Base year of each index 1989-90 = 100.
(b) Change is shown in terms of percentage points.
(c) Base year of index Sep 1997 = 100.
(d) Excludes alterations and additions. Includes refinancing.
(e) Rate for business loans over $50,000. |
STATE SUMMARY
| | | | | | | | | | Source |
| Indicator | Period | NSW | Vic. | Qld | SA | WA | Tas. | NT | ACT | index |
|
SELECTED INDICATORS
| |
| CPI- All groups(a) (index no.) | Dec qtr | 143.6 | 142.1 | 144.2 | 146.2 | 139.2 | 142.0 | 138.5 | 142.9 | 13 |
| Participation rate trend (%) | Feb 04 | 62.5 | 63.2 | 64.9 | 61.5 | 65.7 | 58.8 | 71.8 | 71.6 | 17 |
| Unemployment rate trend (%) | Feb 04 | 5.4 | 5.7 | 6.2 | 6.8 | 5.7 | 6.9 | 4.5 | 3.7 | 17 |
| Average weekly earnings (full-time adults; ordinary time) trend ($) | Nov qtr | 977.20 | 948.70 | 880.80 | 867.10 | 941.30 | 835.00 | 925.30 | 1,069.70 | 20 |
|
SELECTED INDICATORS PER HEAD OF POPULATION(b)
| |
| State final demand | | | | | | | | | | |
| Chain volume measures trend (c) | | | | | | | | | | |
| ($'000) | Dec qtr | 10.1 | 9.9 | 9.5 | 9.2 | 10.3 | 8.4 | 13.8 | 16.9 | 1 |
| Retail turnover | | | | | | | | | | |
| Current prices original ($) | Jan 04 | 799.9 | 753.8 | 838.0 | 755.2 | 785.5 | 713.9 | 714.7 | 933.3 | 3 |
| Current prices trend ($) | Jan 04 | 810.1 | 756.6 | 829.1 | 755.2 | 772.4 | 704.7 | 794.1 | 974.1 | 3 |
| New motor vehicle sales | | | | | | | | | | |
| trend (no. per '000 population) | Feb 04 | 3.8 | 4.1 | 4.2 | 3.4 | 3.6 | 3.1 | 3.4 | 3.7 | 4 |
| Private new capital expenditure | | | | | | | | | | |
| Current prices trend ($) | Dec qtr | 525.1 | 612.1 | 595.5 | 648.0 | 1,220.1 | 330.2 | 2,567.8 | 452.6 | 5 |
| Dwelling unit approvals | | | | | | | | | | |
| Original (no. per '000 population) | Jan 04 | 0.405 | 0.739 | 0.771 | 0.452 | 0.791 | 0.414 | 0.363 | 0.353 | 7 |
| Trend (no. per '000 population) | Jan 04 | 0.540 | 0.794 | 0.941 | 0.614 | 1.032 | 0.491 | 0.509 | 0.449 | 7 |
| Secured housing financed) ($) | Jan 04 | 446.2 | 380.5 | 395.7 | 352.9 | 447.0 | 233.3 | 253.8 | 350.6 | 22 |
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PERCENTAGE CHANGE FROM PREVIOUS PERIOD
| |
| State final demand | | | | | | | | | | |
| Chain volume measures trend (c) | Dec qtr | 1.2 | 0.9 | 3.1 | 0.6 | 1.8 | 2.1 | 2.0 | 0.5 | 1 |
| Retail turnover | | | | | | | | | | |
| Current prices original | Jan 04 | -22.4 | -22.8 | -19.2 | -21.3 | -20.6 | -21.2 | -18.7 | -24.8 | 3 |
| Current prices trend | Jan 04 | 0.3 | 0.5 | 0.6 | 1.0 | 0.4 | 0.3 | 0.1 | 0.2 | 3 |
| New motor vehicle sales trend | Feb 04 | 0.0 | -0.0 | 1.0 | -0.4 | -0.1 | -2.9 | 2.1 | -1.6 | 4 |
| Private new capital expenditure | | | | | | | | | | |
| Current prices trend (e) | Dec qtr | -0.9 | -1.8 | 1.6 | -5.1 | 7.2 | -7.1 | 3.2 | -6.4 | 5 |
| Dwelling unit approvals | | | | | | | | | | |
| Original (%) | Jan 04 | -30.7 | 10.5 | -9.4 | -41.9 | -19.5 | -13.5 | -20.0 | -20.8 | 7 |
| Trend (%) | Jan 04 | -3.5 | -0.0 | -2.0 | -1.4 | -1.7 | -2.1 | 2.0 | -3.5 | 7 |
| CPI- All groups (%) | Dec qtr | 0.8 | 0.2 | 0.6 | 0.6 | 0.4 | 0.6 | 0.5 | 0.7 | 13 |
| Participation rate trend (e) | Feb 04 | -0.0 | 0.1 | 0.0 | 0.0 | -0.1 | -0.1 | 0.4 | -0.1 | 17 |
| Unemployment rate trend (e) | Feb 04 | -0.4 | 1.0 | 0.6 | 1.4 | -1.4 | -0.9 | -4.2 | -1.9 | 17 |
| Average weekly earnings (full-time adults;ordinary time) trend | Nov qtr | 0.6 | 1.5 | 2.2 | 0.2 | 1.4 | 0.2 | 1.5 | 0.8 | 20 |
| Secured housing finance | Jan 04 | -27.9 | -24.0 | -25.6 | -24.8 | -21.3 | -18.1 | -27.0 | -26.3 | 22 |
(a) Base year of index 1989-90=100. |
| (b) The latest quarterly estimate of Australian resident population has been used to calculate ratios for subsequent periods. |
| (c) Reference year for chain volume measures is 2001-02. |
| (d) Excludes alterations and additions. Includes refinancing. |
| (e) Change is shown in terms of percentage points. |
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