Construction lifts business turnover in September
Business turnover for the Construction industry rose 3.7 per cent in seasonally adjusted terms in September, according to figures released today by the Australian Bureau of Statistics (ABS).
Robert Ewing, ABS head of business statistics, said: “Construction turnover has continued to rise over the last three months due to greater activity on major civil and commercial projects.
“The Electricity, gas, water and waste services and Information media and telecommunications industries grew 3.4 per cent. The growth in Information media and telecommunications was driven by continued demand in the Publishing subdivision.”
Rises in these industries were partially offset by falls in four of the 13 industries.
“The largest fall was in Mining, down 1.5 per cent, led by a drop in turnover in the Oil and gas extraction subdivision,” Mr Ewing said.
The 13-industry aggregate showed business turnover rising 0.2 per cent in seasonally adjusted terms but falling 0.1 per cent in trend terms.
Compared to September 2023, turnover was higher for 10 of the 13 industries included in the indicator.
The industries that saw the biggest annual rises were Electricity, gas, water and waste services (+19.3 per cent) and Construction (+8.0 per cent).
Mining had the largest annual fall (-11.9 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 industry divisions and 41 industry subdivisions 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.
- The Publishing subdivision excludes internet and music publishing.
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