Seasonally adjusted business turnover decreased in ten of the thirteen selected industries in January 2022, according to figures released today by the Australian Bureau of Statistics (ABS).
Branko Vitas, Head of the Business Indicators Branch, said that in January, some industries were impacted by consumer caution and restrictions as COVID-19 cases rose.
“Arts and recreation services recorded the largest fall (10.6 per cent) in monthly turnover compared to December 2021,” Mr Vitas said.
“This went alongside a 6.6 per cent decrease in Accommodation and food services, with food and beverage businesses generally experiencing falls in business turnover.”
| Accommodation and food | Arts and recreation | |
|---|---|---|
| Jan-20 | 104.3 | 100.7 |
| Feb-20 | 103.6 | 92.1 |
| Mar-20 | 82.6 | 84.6 |
| Apr-20 | 50.7 | 45.8 |
| May-20 | 51.5 | 46.8 |
| Jun-20 | 69.5 | 57.5 |
| Jul-20 | 83.9 | 78.2 |
| Aug-20 | 80.9 | 77.9 |
| Sep-20 | 81.8 | 76.6 |
| Oct-20 | 83.5 | 82.8 |
| Nov-20 | 84.4 | 86.8 |
| Dec-20 | 94.8 | 92.1 |
| Jan-21 | 96.1 | 93.8 |
| Feb-21 | 94.3 | 95.8 |
| Mar-21 | 99.6 | 104.2 |
| Apr-21 | 106.8 | 118.6 |
| May-21 | 103.6 | 116.4 |
| Jun-21 | 99.5 | 98 |
| Jul-21 | 82.2 | 101.1 |
| Aug-21 | 76.3 | 87 |
| Sep-21 | 78.6 | 85.7 |
| Oct-21 | 88.3 | 91.2 |
| Nov-21 | 99.3 | 102.3 |
| Dec-21 | 109.7 | 107.1 |
| Jan-22 | 102.5 | 95.7 |
Wholesale trade recorded the largest rise in business turnover in January (7.1 per cent). Petroleum wholesalers generally reported higher turnover as petrol prices rose, while agricultural wholesalers benefitted from a bumper crop season (also seen with rising cereal exports – see International Trade in Goods and Services).
The latest results also show that despite most industries seeing falls in business turnover between December 2021 and January 2022, all selected industries (except Other services) had higher turnover compared to January 2021.
