Information media and telecommunications on the rise in June

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Released
9/08/2024
Source
Monthly Business Turnover Indicator, June 2024

Information media and telecommunications industry business turnover rose 3.8 per cent in June, according to figures released today by the Australian Bureau of Statistics (ABS).

Zaneta Georgievski, ABS head of business statistics, said: “Information media and telecommunications turnover has continued to rise over the last couple of months. The latest growth was led by rises in the Telecommunications and Publishing subdivisions.

“The Electricity, gas, water and waste services industry also grew, up 3.2 per cent, with turnover influenced by outages and greater gas usage."

Rises in these industries were offset by falls in seven of the 13 industries.

“The largest fall was the Transport, postal and warehousing industry, down 2.6 per cent, led by a drop in passenger rail turnover,” Ms Georgievski said.

The 13-industry aggregate showed business turnover rising 0.2 per cent in trend terms, but falling 0.1 per cent in seasonally adjusted terms.

Compared to June 2023, turnover was higher for 10 of the 13 industries included in the indicator. 

The industries that saw the biggest annual rises were Retail trade (+6.9 per cent) and Information media and telecommunications (+6.6 per cent). 

Mining had the largest annual fall (-7.0 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.
  • The Publishing subdivision excludes internet and music publishing.
  • 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).
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