SA economy growing on latest figures

Latest figures from the Australian Bureau of Statistics show South Australia's economy grew by 4.9 per cent in the December quarter.

South Australia's economy is growing faster than all the other states according to figures for the December quarter, Treasurer Tom Koutsantonis says

The SA economy grew by 4.9 per cent in the three months to the end of December, ahead of Tasmania on 4.7 per cent. Victoria on 4.4 per cent, NSW on 3.0 per cent, Queensland on 2.6 per cent and Western Australia on 1.2 per cent.

State final demand, which estimates what has been spent in the private and government sectors, came in at $28.3 billion for the quarter and $111.7 billion for the year, Mr Koutsantonis said.

The treasurer said the Australian Bureau of Statistics figures were the most accurate and comprehensive estimates of the state's economy and demonstrated a buoyant confidence in the economy from both consumers and business.

"The ABS numbers don't lie," he said.

"We are standing up for South Australia, guiding the economy to strong, sustainable growth and a bright future."