Turnover rises for energy providers as temperatures drop
The Electricity, gas, water and waste services industry reported the largest rise in business turnover of the 13 selected industries in June (+12.0 per cent), according to figures released today by the Australian Bureau of Statistics (ABS).
Ben Dorber, ABS head of business indicators, said: “The cold start to winter coupled with higher energy prices has driven a 12.0 per cent rise in turnover for the Electricity, gas, water and waste services industry.
“The June rise follows a 13.1 per cent increase in May, however turnover is still 4.3 per cent lower than the same time last year when wholesale energy prices were higher.”
Information, media and telecommunication services recorded the second highest rise in turnover (+4.6 per cent). Turnover also rose for businesses in the Other services industry (+3.5 per cent) which includes personal care services and selected repair and maintenance activities.
The Accommodation and food services industry recorded the largest fall in turnover (-2.6 per cent), driven by weaker demand for catering and takeaway food services. Professional, scientific and technical services (-2.5 per cent) and Administrative and support services (-2.1 per cent) recorded the next largest falls in turnover.
Compared to June 2022, 10 of the 13 selected industries recorded rises. Increases were led by Construction (+18.8 per cent) and Other services (+16.9 per cent), while Mining had the largest fall (-18.1 per cent) reflecting lower commodity prices.
The ABS would like to thank the businesses whose data helped produce these statistics.
- 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 firstname.lastname@example.org (8.30am-5pm Mon-Fri).
- Subscribe to our media release notification service to get notified of ABS media releases or publications upon their release.