Turnover rises across most industries in August 2022
Business turnover rose in 12 of the 13 selected industries in August 2022, according to monthly figures released today by the Australian Bureau of Statistics (ABS).
Kate Lamb, ABS head of Business Indicators said: “The Transport, postal and warehousing industry saw the largest percentage rise in business turnover in August as global supply chain issues continue to ease. The 8.2 per cent rise in August was driven by shipping and logistics companies, as merchandise imports hit a record-high in the month, as reported in the latest International Trade in Goods and Services data.”
The ‘Other services’ industry had the next largest percentage rise in turnover (4.6 per cent), followed by Manufacturing (4.1 per cent) and Mining (4.0 per cent). Information media and telecommunications was the only industry to record a fall in turnover (-0.4 per cent).
All industries recorded year-on-year increases in business turnover, led by Accommodation and food services (72.1 per cent) and Electricity, gas, water and waste services (46.9 per cent). The strength in Accommodation and food compared to the same time last year comes as COVID-19 lockdown restrictions impacted turnover in August 2021.
Index base period: July 2019 = 100.0.
More detailed analysis and further information on the statistical methodology is available in the 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.
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