Business turnover continues to rise in November

Media Release
Released
21/01/2022

Seasonally adjusted business turnover increased in twelve of the thirteen selected industries in November 2021, according to figures released today by the Australian Bureau of Statistics (ABS). 

Branko Vitas, Head of the Business Indicators Branch, said: "Accommodation and food services recorded the largest increase (15.9 per cent) in monthly turnover compared to October 2021. The second greatest month on month increase was for the Arts and recreation services industry (14.1 per cent).

“The rise in Accommodation and food services can largely be attributed to the continued easing of COVID-19 restrictions in November, particularly for New South Wales, and Victoria.” Mr Vitas said.

An increase was also seen in the Retail industry (7.4 per cent rise in turnover), driven by non-food retailing. The increase is similar to that reported in the Retail Trade Survey data for November (up 7.3 per cent).

 

Media notes

  • 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.
  • When reporting ABS data you must attribute the Australian Bureau of Statistics (or the ABS) as the source.
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