Business turnover rises for most industries in September

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Released
9/11/2023
Source
Monthly Business Turnover Indicator, September 2023

Ten of the 13 selected industries reported rises in business turnover in September, according to figures released today by the Australian Bureau of Statistics (ABS).

Robert Ewing, ABS head of business statistics, said the Information media and telecommunications industry reported the largest monthly jump in business turnover.

“The 3.2 per cent rise in turnover for the Information media and telecommunications industry is a positive rebound from its 1.8 per cent fall last month and the industry is up 6.8 per cent annually.

“Mining recorded the second largest rise in turnover (+2.8 per cent), but is down 15.4 per cent compared to September last year, as demand and prices for commodities such as coal and gas have fallen over the past 12 months,” Mr Ewing said.

Construction businesses also saw an increase (+2.6 per cent) driven by Heavy and civil engineering construction. The Construction industry is up 21.1 per cent from the same time last year as engineering firms continue to work through a large pipeline of infrastructure projects.

Manufacturing (-1.3 per cent), Professional, scientific and technical services (-0.9 per cent), and Arts and recreation services (-0.3 per cent) were the only industries to record falls in turnover.

The ABS would like to thank the businesses whose data helped produce these statistics.

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.
  • For media requests and interviews, contact the ABS Media Team via media@abs.gov.au (8.30am-5pm Mon-Fri).
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