South Australia’s leading the country when it comes to businesses investing in new equipment, according to the latest Private New Capital Expenditure data from the Australian Bureau of Statistics.

In the June quarter, South Australian businesses spent $1.2 billion on plant and equipment including machinery, vehicles, furniture and electrical apparatus, 20.6 per cent more than the previous quarter and 19.9 per cent more than the year prior.

In total, business investment in the quarter, was $2.5 billion, more than 15 per cent higher than at the time of the 2022 State Election, over 4 percentage points higher than the national average.

While business investment in buildings and structures fell by 9.2 per cent in the quarter, it was still 17 per cent higher than at the time of the State Election.

Quotes

Attributable to Stephen Mullighan

Despite a softening national economy, South Australian businesses are still exhibiting enough confidence in our economy to invest in their operations.

The Malinauskas Government’s ambitious agenda and clear vision for the economy should give businesses confidence to continue to invest in their operations.

South Australia’s the lowest taxing state on the mainland and the best place in the country to do business, according to the Business Council of Australia, and businesses are making the most of this advantage.