Over $1.5 billion in capital expenditure has been invested in South Australia in the first quarter, according to the latest figures released by the State Government.

State Minister for Transport and Infrastructure, Tom Koutsantonis, said the figures show that the state led the nationa in the growth of new capital expenditure in the March quarter.

“New private capital expenditure in South Australia rose 15% in seasonally adjusted terms in the first three months of this year to $1.5 billion,” Mr Koutsantonis said.

“That’s faster than the 5.9% growth managed in Queensland and 1.5% in Tasmania, the only two Australian states to record an increase in the March quarter.

“Just as importantly, that new private spending was led by a 35% seasonally adjusted rise in expenditure on buildings and structures.

“In the year to the end of March, private new capital expenditure grew 1.8% seasonally adjusted, a result underpinned by a 28% rise in spending on private buildings and structures.