South Australian Business Outlook
Glass half full
The South Australian Business Outlook is a quarterly publication from Deloitte Access Economics, providing an assessment of key economic indicators, business conditions, and structural trends shaping the state's outlook. Each edition draws on Deloitte Access Economics' forecasts from our flagship Business Outlook publication.
South Australia entered 2026 in a position of relative strength, with output growth that outpaced all other states through the year to December 2025. A resilient labour market, record levels of dwelling investment, and strong export performance have supported the state.
The road ahead is more nuanced. The Middle East conflict has added to domestic inflation concerns, which saw the RBA to open the year with back-to-back rate hikes. Closer to home, the temporary drivers that have supported recent SA growth - major government projects and elevated public expenditure - are beginning to fade. Fiscal consolidation is emerging as a priority as state debt approaches 20% of output.
