The NAB’s latest State Update for South Australia and State Economic Handbook (the latter covering all states) both indicate that some “green shoots” are emerging in SA, but SA’s economic fundamentals remain “soft” relative to other states. Both reports are available here. The green shoots include improvements in business conditions, business confidence, household income and consumer spending. However, capital expenditure expectations for 2016/17 have deteriorated. While the NAB projects that SA’s unemployment rate will fall slightly to 7.0% in 2016/17, it will remain the highest of all states and territories; NAB projects Australia’s overall unemployment rate to be 5.6% in 2016/17.