Accommodation and food turnover on top in December
Accommodation and food services recorded the largest percentage rise in business turnover in December (+5.0 per cent), after falling 2.7 per cent in November, according to monthly figures released today by the Australian Bureau of Statistics (ABS).
Robert Ewing, ABS head of business indicator statistics, said: “Food and beverage services led the rise for the Accommodation and food services industry, as Australians enjoyed a less disrupted lead up to the holiday season.”
Manufacturing recorded the next largest monthly rise in turnover (+3.6 per cent), with Primary metal and metal product manufacturers leading the increase.
Arts and recreation fell for the third consecutive month (-4.0 per cent) with tickets for large sporting events falling after a strong November result, while Mining fell (-3.0 per cent) with lower turnover contributions from coal and liquified natural gas.
All 13 selected industries recorded year-on-year increases from December 2021 and larger increases in the two years from December 2020, most notably led by Mining (+27.1 per cent from December 2021 and +64.8 per cent from December 2020).
More detailed analysis and information on the methodology is available in Monthly Business Turnover Indicator.
All figures in this media release are in seasonally adjusted terms.
The Monthly Business Turnover Indicator is derived using Australian Taxation Office (ATO) Business Activity Statement (BAS) data from monthly remitters.
Monthly BAS reporting covers businesses with GST annual turnover of $20 million or more and a proportion of smaller businesses that report on a voluntary basis.
The indicator includes 13 of the 19 industry divisions classified according to the Australian and New Zealand Standard Industrial Classification (ANZSIC), 2006, and provides timely and frequent insights into economic activity, which complement the longstanding quarterly measures.
When reporting ABS data you must attribute the Australian Bureau of Statistics (or the ABS) as the source.
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