This is not the latest release View the latest release

Monthly Business Turnover Indicator

Experimental indicator of business turnover derived from monthly Business Activity Statements

Reference period
November 2021
Released
21/01/2022

Key statistics

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

  • Rises in 12 of the 13 published industries in November 2021
  • The largest increase was in Accommodation and food services (15.9%) followed by Arts and recreation services (14.1%)
  • Construction rose (9.5%), following a fall in October 2021
  • For the second consecutive month, all industries had year-on-year increases
  • 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 scope, coverage, and methods. 
  • Estimates in this release are subject to revisions. 
  • Improvements to the imputation method have been implemented this month. For further information see Methodology.

Industry

Total turnover differs between industries and this should be considered when analysing month-to-month movements to contextualise insights on overall economic activity. The chart below shows the monthly movements in the turnover indicator for November 2021 (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 November 2021 (represented by colour) and the selected industries' estimated share of total turnover for the 2020-21 financial year (represented by cirle 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.

    Accommodation and food services and Arts and recreation services are coloured dark blue, indicating a strong positive movement. These are comparatively small industries 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

    Accommodation and food services recorded the largest rise in seasonally adjusted terms (15.9%), followed by Arts and recreation services (14.1%). These increases correspond with continued easing of COVID-19 restrictions in New South Wales, Victoria and the Australian Capital Territory during the month.

    Other industries that recorded a rise in turnover included Construction (9.5%) and Retail trade (7.4%). The increase in Construction turnover was broad-based, with rises occurring across both building and engineering businesses. The increase in Retail trade was driven by non-food retailers that had been impacted by COVID-19 restrictions. 

    All thirteen industries included in the indicator recorded an increase through the year to November 2021, with ten of the thirteen industries up more than 10% year-on-year.

    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

    Caution: Data in Data Explorer is currently released after the 11:30am release on the ABS website. Please check the reference period when using Data Explorer.

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

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