South Australian business confidence is on the rise and is now at its highest point in over three years, according to a survey by Business SA.
Adelaide Now reports that, according to the survey, the South Australian confidence index for the September quarter was 104.6, an increase of 17.2 points over the previous result.
General business conditions to 87.3 points in the September quarter. This was an increase of 17.2 points. And those businesses responding forecast a further 19.1 point improvement in the final quarter of the year.
The optimism comes at a time that South Australia has an unemployment rate of 6 per cent, which is the highest rate of all Australian mainland states.
The survey found that a third of businesses who took part reduced their workforce during the September quarter and almost 20 per cent expect to cut more jobs before the end of the year.
Commenting on the result, Business SA chief executive Nigel McBride said, "While both the state and national results are very welcome, it is important to note that recent key ABS economic indicators suggest that the economic environment still remains lacklustre."
"The survey shows that whilst local and national businesses may still be operating in a difficult economic environment they are allowing themselves to be more optimistic about the future."
"This is a good sign for jobs and growth, particularly in South Australia."