Strong growth in energy industry turnover continues

Media Release

Business turnover increased in eight of the 13 selected industries in June 2022, according to monthly figures released today by the Australian Bureau of Statistics (ABS).

Branko Vitas, head of Business Indicators at the ABS, said: “Electricity, gas, water and waste services was the industry with the largest percentage growth in business turnover for the second consecutive month, underpinned by significant price rises for domestic electricity and gas supply."

"After falling by 5.6 per cent in April, turnover in the Electricity, gas, water and waste services industry rose by 23.0 per cent in May and 16.7 per cent in June - or 43.4 per cent across the two months."

Index base period: July 2019 = 100.0.

Turnover in the Mining industry rose by 5.7 per cent in June, increasing for the seventh consecutive month. Increased international demand for commodities and domestic competition for gas and thermal coal contributed to higher turnover in the Mining industry over this period.

Of the five industries to record falls in business turnover in June, the Arts and recreation services industry saw the largest decrease (3.6 per cent). This was the second consecutive monthly decline for this industry.

All industries recorded year-on-year increases in business turnover at June 2022, ranging between 42.3 per cent for Mining and 3.8 per cent for Construction.

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.
  • 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 (8.30am-5pm Mon-Fri).
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