Turnover falls for 7 of 13 industries in July

Media Release

Seven of the 13 selected industries reported falls in business turnover in July, according to figures released today by the Australian Bureau of Statistics (ABS).

Robert Ewing, ABS head of business statistics, said the Electricity, gas, water and waste services industry reported the largest monthly fall in business turnover.

“The 14.9 per cent fall in turnover for Electricity, gas, water and waste services can be attributed to a large decrease in wholesale electricity prices. Turnover in this industry has been volatile since the energy crisis in mid-2022.”

Arts and recreation recorded the second largest fall in turnover (-6.1 per cent). Manufacturing businesses also saw a drop (-5.0 per cent) with lower turnover seen across precious metal manufacturing and alumina production.

Meanwhile, the Administrative and support services (+3.8 per cent) and Construction industries (+2.0 per cent) recorded the largest rises in turnover.

Compared to July 2022, eight of the 13 industries included in the indicator rose in contrast to the monthly falls. Rises were led by Construction (+19.2 per cent), Other services (+14.3 per cent) and Administration and support services (+10.9 per cent).

Annually, the largest falls were in Electricity, gas, water and waste services (-22.1 per cent) and Mining (-15.5 per cent). This was partly driven by lower commodity prices such as coal and natural gas.

The ABS would like to thank the businesses whose data helped produce these statistics.

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 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.
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