September turnover falls for 7 of 13 industries
Business turnover fell in seven of the 13 selected industries in September 2022, according to monthly figures released today by the Australian Bureau of Statistics (ABS).
Kate Lamb, head of Business Indicators at the ABS, said: "All industries recorded year-on-year increases in business turnover, led by Accommodation and food services (65.6 per cent) and Arts and recreation (52.9 per cent). The strength in these industries compared to the same time last year comes as COVID-19 Delta variant lockdown restrictions led to reduced turnover in September 2021."
Following strong growth in May and June 2022, the Electricity, gas, water and waste industry saw the largest percentage fall in business turnover. The 18.9 per cent decrease in September partly reflected moderation in wholesale electricity prices. Despite the weakness in the September month, business turnover for this industry was 27.2 per cent higher compared to September 2021.
Arts and recreation had the largest percentage rise in turnover (9.4 per cent), boosted by large crowds attending the AFL and NRL Finals Series, the FIBA Women’s Basketball World Cup and the start of the Spring Racing Carnival.
More detailed analysis and information on the methodology is available in Monthly Business Turnover Indicator.
Media notes
- 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.
- The ABS has resumed publishing trend estimates and reverted to using the standard concurrent seasonal adjustment method for selected industry divisions. Please see the Data notes section for more information.
- 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 media@abs.gov.au (8.30am-5pm Mon-Fri).
- Subscribe to our media release notification service to get notified of ABS media releases or publications upon their release.