Turnover rises in Accommodation and food services
Business turnover for Accommodation and food services continued to rise in April (7.6 per cent) as the easing of restrictions enabled Australians to travel and socialise more, while Construction turnover fell (-8.9 per cent) amid supply and weather issues according to latest data from the Australian Bureau of Statistics (ABS).
Branko Vitas, Head of the Business Indicators Branch, said: “Turnover for Accommodation and food services continued to recover in April, rising for the third consecutive month. April saw the continued easing of COVID-19 restrictions and more people travelling, dining out and holding family gatherings over the holiday period.”
The Monthly Business Turnover Indicator found turnover increased in nine of the 13 selected industries in April 2022 (seasonally adjusted).
Construction saw the largest percentage fall across the industries, decreasing by 8.9 per cent in April. Turnover generally fell for residential building businesses, as material and labour supply issues, as well as higher than average rainfall, resulted in slower progress on construction projects.
Of the 13 industries, 12 recorded year-on-year increases in business turnover, with Mining (40.3 per cent) and Transport, postal and warehousing (32.6 per cent) seeing the largest rises. The recovery in airline activity, especially over the three months to April 2022, has driven the strength in turnover for the Transport, postal and warehousing industry.
Index base period: July 2019 = 100.0.
- 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 30 April 2022.
- 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.
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