confidence decreased by 4.4 points, to 100.4 points. BankSA agribusiness regional general manager Les Ryan said “the increase in business confidence across South Australia’s regions demonstrated cautious optimism, with all regions confident about business climate improvement, but remaining reluctant to add new employees”. “The slight decrease in consumer confidence was led by consumers being less optimistic about their current household situation but they were more likely to have made a major purchase in recent months,” Mr Ryan said. “The State Monitor survey was taken at the same time as the Reserve Bank cut interest rates, so these factors would have been front of mind for both consumers and businesses.” “Record-low rainfall and drought conditions would also likely be playing a factor, but there has been positive news around tourism in the mid North and Riverland.” “The recent annual Grain Producers SA survey identified input costs of fertiliser, chemical and fuel as being the biggest issues as they move into the new season.” The survey also showed consumers in the Riverland region were more likely to have made a recent major purchase, but were less optimistic about the current consumer spending climate. “I can’t see where the information is coming from, as it certainly wouldn’t be from the agriculture or wine grape sectors at the moment,” Mr Gladigau said. The survey also stated Riverland business confidence, increased by 16.2 points, to 102.4 points but consumer 6 BUSINESS VIEW OCEANIA VOLUME 07, ISSUE 04
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