Business turnover up 1.0% in July

Media Release
Cite
Print
Released
9/09/2024
Source
Monthly Business Turnover Indicator, July 2024

Most industries had rises in business turnover in July, according to figures released today by the Australian Bureau of Statistics (ABS).

Robert Ewing, ABS head of business statistics, said: “Business turnover rose 1.0 per cent in July in seasonally adjusted terms following falls in the previous two months.

“The Transport, postal and warehousing industry showed the largest rise at 4.0 per cent. This is a rebound from its 3.3 per cent fall last month and is up 8.2 per cent annually.

“Other notable industry rises were for Professional, scientific and technical services, up 3.9 per cent, Construction rose by 2.3 per cent, and Wholesale trade was up 2.0 per cent.” 

The largest falls were for the Retail trade and Information media and telecommunications industries, both down 1.6 per cent.

The 13-industry aggregate showed business turnover rising 0.1 per cent in trend terms and 1.0 per cent in seasonally adjusted terms.

Compared to July 2023, turnover was higher for all 13 industries included in the indicator except Mining which fell 1.2 per cent.

The industries that saw the biggest annual rises were Electricity, gas, water and waste services (16.8 per cent) and Professional, scientific and technical services (8.4 per cent). 
 

Media notes

  • 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 on 1300 175 070 or media@abs.gov.au (monitored 8:30am-5pm Canberra time, Monday-Friday).
  • Watch our data crash course, designed especially for journalists to learn how to find, download and interpret our data.
  • Subscribe to our media release notification service to get notified of ABS media releases or publications on their release.