Monthly Business Turnover Indicator

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Experimental indicator of business turnover derived from monthly Business Activity Statements

Reference period
February 2022
Released
8/04/2022

Key statistics

In seasonally adjusted terms, the monthly business turnover indicator showed:

  • Rises in business turnover for all 13 of the published industries in February 2022
  • The largest rises were in Transport, postal and warehousing (9.3%), Arts and recreation services (8.0%) and Construction (7.4%)
  • Through the year, the largest rises were recorded in Mining (35.1%) followed by Transport, postal and warehousing (31.5%)
  • This experimental indicator is derived from Australian Taxation Office (ATO) Business Activity Statements (BAS) turnover data from monthly BAS remitters. It includes 13 of the 19 industry divisions classified according to the Australian and New Zealand Standard Industrial Classification (ANZSIC), 2006.
  • Monthly BAS reporting covers businesses with GST annual turnover of $20 million or more and a proportion of smaller businesses that report monthly on a voluntary basis.
  • The estimated monthly changes in business turnover are aligned as closely as is feasible to the Australian System of National Accounts concept of market output. Users should exercise caution in comparing the indicator to other ABS economic outputs due to differences in concepts, scope, coverage, and methods. 
  • Estimates in this release are subject to revisions. 

Industry

Total turnover differs between industries. This should be considered when analysing month-to-month movements in the context of overall economic activity. The chart below shows the monthly movements in the turnover indicator for February 2022 (represented by colour) and the selected industries' estimated share of total turnover for the 2020-21 financial year (represented by circle size). 

Chart showing the monthly movements in the turnover indicator for February 2022 (represented by colour) and the selected industries' estimated share of total turnover for the 2020-21 financial year (represented by circle size).

The chart has 13 circles, one for each industry division included in the Monthly Business Turnover Indicator. The size of each circle represents the share of total business turnover for the 2020-21 financial year for that industry. Circles are also given a colour shading to represent the monthly change in the Monthly Business Turnover Indicator for the current reference month. Industries with negative movements are coloured orange, those with little or no movement are grey, and positive movements are blue.

The largest circles are for Wholesale trade, Retail trade, Manufacturing, Construction, and Mining.

Transport, postal and warehousing is coloured a dark blue, indicating a strong positive movement. Electricity, gas, water and waste services is grey, indicating not much movement. These two divisions are relatively small based on turnover share.

Business turnover differs from the National Accounts concept of output. For example, the value of goods sold by wholesalers and subsequently retailers are reflected in turnover for both industries while National Accounts output measures the margins gained by each industry.

Industry analysis and charts

All 13 industry divisions included in the indicator recorded seasonally adjusted increases in February 2022. The largest rises in monthly turnover were seen in Transport, postal and warehousing (9.3%), followed by Arts and recreation services (8.0%) and Construction (7.4%). Driving the rise in Transport, postal and warehousing turnover was an increase in airline activity in February compared to January. This included the effect of the reopening of Australian international borders on the 21st of February 2022.

The smallest rises in monthly turnover were seen in Electricity, gas, water and waste services (1.3%), Accommodation and food services (2.0%) and Mining (3.8%).

Through the year all 13 industry divisions saw seasonally adjusted rises, with the largest recorded in Mining (35.1%) followed by Transport, postal and warehousing (31.5%).

Mining

Index base period: July 2019 = 100.0.

Manufacturing

Index base period: July 2019 = 100.0.

Electricity, gas, water and waste services

Index base period: July 2019 = 100.0.

Construction

Index base period: July 2019 = 100.0.

Wholesale trade

Index base period: July 2019 = 100.0.

Retail trade

Index base period: July 2019 = 100.0.

Accommodation and food services

Index base period: July 2019 = 100.0.

Transport, postal and warehousing

Index base period: July 2019 = 100.0.

Information media and telecommunications

Index base period: July 2019 = 100.0.

Professional, scientific and technical services

Index base period: July 2019 = 100.0.

Administrative and support services

Index base period: July 2019 = 100.0.

Arts and recreation services

Index base period: July 2019 = 100.0.

Other services

Index base period: July 2019 = 100.0.

Data downloads

Time series spreadsheets

Data files

Data Explorer datasets

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For more information about Data Explorer, see the Data Explorer user guide.

Business Turnover Indicator - Monthly percentage changes and indexes, January 2010 onwards

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