South Australia’s private sector is investing at record levels, with new figures revealing businesses spent a massive $3.1 billion on property and equipment during the March quarter.
Data released by the Australian Bureau of Statistics shows private new capital expenditure in SA reached an all-time high on a seasonally adjusted basis, climbing 14.8 per cent compared to the same period last year.
The growth outpaced the national average and signals continued confidence from businesses investing in the state’s future.
Private new capital expenditure covers spending on new tangible assets, including buildings, machinery, equipment, and major improvements or additions. The ABS survey captures investment activity across most private industries, excluding agriculture, government administration, defence and non-employing businesses.
South Australian Treasurer Tom Koutsantonis said, “These statistics confirm what we know, our state is the fastest growing in the country, and a significant component of that growth is being driven by the private sector.
“We are pleased to see businesses investing in growth, which will deliver further jobs and wealth for our state. Our Government continues to back business investment with a stable, pro-growth and productive agenda.”
The record investment comes as South Australia continues to experience major growth across infrastructure, defence, housing, renewable energy and advanced manufacturing sectors, with both interstate and international businesses increasingly looking to establish or expand operations in the state.
The figures add to a growing list of economic milestones for South Australia in recent years, with the state continuing to attract large-scale projects and significant private development activity across metropolitan and regional areas.
Business investment is often seen as a key economic indicator, reflecting confidence in future demand, workforce growth and long-term economic conditions.
For South Australians, the increase in private capital spending could also translate into more jobs, new developments and expanded opportunities across a range of industries as businesses continue to grow and modernise operations.
With billions now flowing into property, infrastructure and equipment upgrades, the latest ABS data paints a picture of a state economy continuing to build momentum well into the second half of the year.
