Business turnover falls in most industries in September
Monthly Business Turnover Indicator showed falls in eight of the thirteen selected industries in September 2021 (seasonally adjusted), according to figures released today by the Australian Bureau of Statistics (ABS). The indicator is derived using Australian Taxation Office (ATO) Business Activity Statement (BAS) data from monthly remitters.
John Shepherd, head of Industry Statistics, said "Electricity, gas, water and waste services led the falls, down 8.2 per cent for the month. The fall in this industry coincided with decreases in wholesale gas and electricity prices in parts of the country."
The next largest falls were seen in Construction (3.7 per cent), Arts and recreation services (2.7 per cent) and Wholesale trade (2.2 per cent).
Accommodation and food services recorded the largest rise of 2.2%, following four consecutive months of falls as COVID-19 restrictions impacted this industry. Despite the monthly rise, Accommodation and food services was the only industry to record a fall through the year to September 2021.
"With the progressive lifting of COVID-19 restrictions across Australia, business turnover is expected to pick up in coming months across most industries. The indicator will provide timely insights during this period of change in the Australian economy," said John Shepherd.
- 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.
For media requests and interviews, contact the ABS Media Team via email@example.com (8.30am-5pm Mon-Fri).
Subscribe to our media release notification service to get notified of ABS media releases or publications upon their release.