Ongoing wine industry challenges, together with the flow on impacts of flooding has led to a drop in local business confidence.
Bank SA’s state monitor survey for October revealed a 14.3 point drop for the Mid North and Riverland region.
Bank SA’s Agribusiness Regional General Manager, Les Ryan said the local drop was driven by a more negative perception of small business activity in the region and less employment generating activity in recent months.
The recent findings show the local region to have the lowest business confidence in the state, however consumer confidence is now the highest in the state.
Mid North and Riverland region (Barossa, Mid North, Riverland and Yorke Peninsula)
- A 14.3 point decrease in business confidence from 102.6 to 88.3 points (now the lowest region for business confidence)
West and North (Upper Spencer Gulf, Far North and Eyre Peninsula)
- A 1.7 point increase in business confidence from 114.2 to 115.9 points (the most confident region for business in regional SA)
Southern (South Coast, South East, Hills and Murray Plains)
- An 8.5 point increase in business confidence from 98.6 to 107.1 points
*A result greater than 100 represents a positive result and therefore more optimistic respondents than pessimistic, while a result less than 100 represents a negative result meaning there are more pessimistic respondents than optimistic.