Business turnover rose 0.2 per cent (trend terms) in January, according to a new 13-industry aggregate indicator released today by the Australian Bureau of Statistics (ABS).
Lauren Binns, ABS head of business statistics, said “This month our new 13-industry indicator offers a timely read on high-level economic activity, while new subdivision indexes allow a deeper dive into the turnover data – giving us better insight into what’s driving the turnover this month.
“Looking at the 13-industry aggregate in trend terms, business turnover has risen for the past six months to the highest level since the series began in 2010.”
| Business turnover index (pts) | Monthly percentage change (%) | |
|---|---|---|
| Jan-19 | 97.6 | 0.2 |
| Feb-19 | 98.0 | 0.4 |
| Mar-19 | 98.5 | 0.5 |
| Apr-19 | 99.1 | 0.6 |
| May-19 | 99.7 | 0.6 |
| Jun-19 | 100.2 | 0.5 |
| Jul-19 | 100.0 | -0.2 |
| Aug-19 | 100.3 | 0.3 |
| Sep-19 | 100.3 | 0.1 |
| Oct-19 | 100.2 | -0.1 |
| Nov-19 | 100.0 | -0.2 |
| Dec-19 | 99.6 | -0.4 |
| Jan-20 | 99.6 | -0.1 |
| Feb-20 | 99.3 | -0.2 |
| Mar-20 | 97.9 | -1.4 |
| Apr-20 | 92.9 | -5.1 |
| May-20 | 92.0 | -1.0 |
| Jun-20 | 92.7 | 0.8 |
| Jul-20 | 93.0 | 0.3 |
| Aug-20 | 93.4 | 0.5 |
| Sep-20 | 94.1 | 0.7 |
| Oct-20 | 94.8 | 0.8 |
| Nov-20 | 97.0 | 2.3 |
| Dec-20 | 98.9 | 1.9 |
| Jan-21 | 100.3 | 1.4 |
| Feb-21 | 101.3 | 1.0 |
| Mar-21 | 103.2 | 1.8 |
| Apr-21 | 104.6 | 1.4 |
| May-21 | 106.2 | 1.5 |
| Jun-21 | 107.0 | 0.7 |
| Jul-21 | 107.2 | 0.3 |
| Aug-21 | 107.7 | 0.4 |
| Sep-21 | 107.8 | 0.1 |
| Oct-21 | 109.0 | 1.1 |
| Nov-21 | 111.4 | 2.2 |
| Dec-21 | 113.1 | 1.5 |
| Jan-22 | 115.4 | 2.0 |
| Feb-22 | 117.7 | 2.0 |
| Mar-22 | 122.1 | 3.7 |
| Apr-22 | 124.6 | 2.0 |
| May-22 | 127.3 | 2.2 |
| Jun-22 | 129.4 | 1.6 |
| Jul-22 | 130.7 | 1.0 |
| Aug-22 | 132.0 | 1.0 |
| Sep-22 | 131.1 | -0.7 |
| Oct-22 | 131.5 | 0.3 |
| Nov-22 | 131.6 | 0.1 |
| Dec-22 | 131.7 | 0.1 |
| Jan-23 | 131.7 | 0 |
| Feb-23 | 131.6 | -0.1 |
| Mar-23 | 131.4 | -0.2 |
| Apr-23 | 131.1 | -0.2 |
| May-23 | 130.6 | -0.3 |
| Jun-23 | 130.8 | 0.1 |
| Jul-23 | 130.2 | -0.5 |
| Aug-23 | 130.8 | 0.5 |
| Sep-23 | 131.6 | 0.6 |
| Oct-23 | 132.3 | 0.5 |
| Nov-23 | 132.8 | 0.3 |
| Dec-23 | 133.1 | 0.2 |
| Jan-24 | 133.3 | 0.2 |
In seasonally adjusted terms, the 13-industry aggregate showed a 1.0 per cent rise in business turnover, and eight of the 13 industries also rose in January.
“Electricity, gas, water and waste had the largest seasonally adjusted rise of 5.8 per cent, as warmer temperatures over summer contributed to higher electricity demand.
“Transport, postal and warehousing had the second largest rise of 4.1 per cent, and was mainly driven by the Transport support services subdivision.
“Arts and recreation services saw the largest percentage fall. The new subdivision indexes show that this is because lower turnover for Sports and recreation activities offset a rise in Gambling activities,” Ms Binns said.
| December 2023 to January 2024 (%) | January 2023 to January 2024 (%) | |
|---|---|---|
| Electricity, gas, water and waste services | 5.8 | 11.8 |
| Transport, postal and warehousing | 4.1 | 2.6 |
| Professional, scientific and technical services | 2.9 | 8.5 |
| Retail trade | 2.0 | 1.9 |
| Other services | 1.8 | 6.2 |
| Mining | 0.5 | -9.8 |
| Accommodation and food services | 0.5 | 6.8 |
| Wholesale trade | 0.2 | 0.7 |
| Information media and telecommunications | 0 | 5.3 |
| Manufacturing | -0.2 | 0.1 |
| Administrative and support services | -0.2 | 1.5 |
| Construction | -0.7 | 15.0 |
| Arts and recreation services | -2.2 | 4.9 |
