Seasonally adjusted business turnover increased for all 13 selected industries in February 2022, according to figures released today by the Australian Bureau of Statistics (ABS).
Branko Vitas, Head of the Business Indicators Branch, said most industries saw business turnover recover the falls seen during the peak of the Omicron variant in January 2022.
“In February, six industries recorded rises in turnover that were greater than five per cent,” Mr Vitas said.
“The increase in business turnover comes after COVID-19 cases peaked, there was a large fall in hours worked and businesses experienced labour shortages and supply disruptions in January.”
Transport, postal and warehousing recorded the largest rise (9.3 per cent) compared to January, as airlines and other transport businesses generally reported higher turnover.
The Wholesale trade and Mining industries also continued to benefit from rising commodity prices, with turnover rising by 3.9 per cent and 3.8 per cent respectively compared to the previous month.
| Mining | Wholesale trade | Transport, postal and warehousing | |
|---|---|---|---|
| Feb-2020 | 86.1 | 100.2 | 100.2 |
| Mar-2020 | 94.8 | 100.9 | 87.9 |
| Apr-2020 | 100.7 | 85.2 | 79.4 |
| May-2020 | 88.1 | 88.9 | 71.5 |
| Jun-2020 | 87.3 | 98.5 | 79.0 |
| Jul-2020 | 82.3 | 98.1 | 79.4 |
| Aug-2020 | 84.9 | 96.3 | 76.4 |
| Sep-2020 | 89.0 | 96.8 | 78.0 |
| Oct-2020 | 95.0 | 97.7 | 78.0 |
| Nov-2020 | 94.0 | 100.0 | 79.7 |
| Dec-2020 | 98.2 | 102.0 | 86.7 |
| Jan-2021 | 100.4 | 104.4 | 84.0 |
| Feb-2021 | 100.4 | 104.5 | 86.7 |
| Mar-2021 | 100.9 | 105.1 | 88.2 |
| Apr-2021 | 108.7 | 107.4 | 89.6 |
| May-2021 | 115.3 | 106.9 | 93.4 |
| Jun-2021 | 118.7 | 108.0 | 95.2 |
| Jul-2021 | 123.8 | 108.8 | 91.7 |
| Aug-2021 | 124.0 | 110.3 | 94.1 |
| Sep-2021 | 122.9 | 108.1 | 95.1 |
| Oct-2021 | 121.7 | 110.7 | 95.6 |
| Nov-2021 | 120.6 | 113.3 | 102.4 |
| Dec-2021 | 124.0 | 111.9 | 108.3 |
| Jan-2022 | 130.8 | 119.6 | 104.3 |
| Feb-2022 | 135.7 | 124.2 | 114.0 |
All industries have recorded year-on-year increases in business turnover. These ranged from a rise of 8.1 per cent for Construction to 35.1 per cent for Mining in February 2022 compared to turnover in February 2021.
