The Hon. Rob Lucas MLC

The Hon

Rob Lucas MLC

Treasurer

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Access Economics issues warning on future

Monday, 17 October 2005

Respected national commentator Access Economics has issued a bleak warning about the state’s economic future, Shadow Treasurer Rob Lucas said today.

Access Economics’ latest Business Outlook released today states:

“The rest of the outlook for SA is weak. As State Chart 9 indicates, there is an obviously underlying downward trend in SA’s share of national population and the national economy – one that we do not see changing anytime soon.”
Access Economics’ Business Outlook September Quarter 2005 p103

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Access Economics has also warned that there is bad news ahead for both the car and wine industry sectors which are obviously critical industries for the state’s future economic growth.

“Whilst the problems of the car industry have been widely canvassed for many years it is especially concerning for South Australia’s future that Access Economics is now warning of bad news for the future of the wine industry,” Mr Lucas said today.

Finally, Access Economics has warned about future job prospects nationally and in South Australia:

“We therefore suspect that employment growth will see a shakeout soon, and that it then runs the risk of lying doggo for up to a year.”
Access Economics’ Business Outlook September Quarter 2005 p81
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