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SA economic growth to moderate as headwinds intensify and capacity constraints are reached
The latest Economic Briefing Report from the SA Centre for Economic Studies concludes that the SA economy will continue to expand in the new year, but at a slower pace. After two years of rapid growth, the state economy is now operating at a very high level of capacity utilisation with unemployment at low levels. Tighter financial conditions, cost of living pressures and high energy prices are all expected to have a dampening influence on growth in 2023.
Mitigating work related financial disincentives faced by Age Pensioners can help address the skills shortage
Raising the labour force participation of Age Pensioners would help to address existing skills shortages within Australia. A new research paper from SACES examines a potential policy reform to address the current financial disincentive to participate in the labour force faced by those on the Aged Pension.
SA economic recovery to continue despite cost of living crisis
South Australia鈥檚 economic recovery is set to continue despite inflation and rising interest rates putting increased strain on household budgets. But with household and public sector consumption expected to weaken, the State鈥檚 export performance will need to improve to compensate. These conclusions are contained in the latest Economic Briefing Report from the SA Centre for Economic Studies.聽
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SA construction sector remains strong, but faces headwinds
Overall activity in the South Australian construction sector should remain at its current robust level over the near term. But recent large price increases for inputs and the gradual erosion of recent supportive factors will present near and medium-term challenges for the construction sector, especially residential building. These insights are contained in a newly released paper from SACES which assesses the state of general business conditions in the construction industry in South Australia.
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