COVID conditions impact business turnover in December
Seasonally adjusted business turnover increased in seven of the thirteen selected industries in December 2021, according to figures released today by the Australian Bureau of Statistics (ABS).
Branko Vitas, Head of the Business Indicators Branch, said: “The continued easing of COVID-19 restrictions in the first half of December benefitted some industries, leading to rises in business turnover.
"Accommodation and food services recorded the largest increase (10.1 per cent) in monthly turnover compared to November 2021,” Mr Vitas said.
“A 5.6 percent rise was also seen in Transport, postal and warehousing, contributing to a 24.5 per cent year-on-year rise in this industry.”
Turnover for all thirteen selected industries was higher compared to December 2020. Mining led the rises (up 25.3 per cent), as coal and natural gas exports rose through the year (see International Trade in Goods and Services).
- 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 latest data is for the month ending 31 December 2021.
- 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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