South Australia consumer confidence at record low, Bank SA state monitor finds (ABC)

View Comments ABC Bank SA index indicates pessimism is high.

A measure of consumer confidence in South Australia is at its lowest level in 17 years.

The Bank SA state monitor puts the confidence level just below a 100-point threshold.

It indicates pessimism among consumers outranks optimism for the first time since the bank began its surveys in 1997.

Bank SA chief executive Nick Reade says a range of concerns seem to be affecting consumers.

"Things like the federal budget, state political uncertainty, overall sluggish economic growth situation we're seeing, a rise in the Australian dollar, military tensions even around the world and some concerns over unemployment would be the major drivers, in our opinion," he said.

Business confidence also has fallen for the third time in the past four quarterly surveys.

As well, only 6 per cent of respondents aged 18 to 24 are confident of finding another job.

Mr Reade says that too is a record low.

"Certainly South Australians as a community have a lot of concerns about the future of their children in terms of their jobs prospects," he said.

"Obviously things like Holden and the like have created an impact there."

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