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Turnover falls for 7 of 13 major industries

Business turnover fell in seven of the 13 selected industries in September 2022, according to monthly figures released today by the Australian Bureau of Statistics (ABS).

Kate Lamb, head of Business Indicators at the ABS, said: “All industries recorded year-on-year increases in business turnover, led by Accommodation and food services (65.6 per cent) and Arts and recreation (52.9 per cent). The strength in these industries compared to the same time last year comes as COVID-19 Delta variant lockdown restrictions led to reduced turnover in September 2021.”

Following strong growth in May and June 2022, the Electricity, gas, water and waste industry saw the largest percentage fall in business turnover. The 18.9 per cent decrease in September partly reflected moderation in wholesale electricity prices. Despite the weakness in the September month, business turnover for this industry was 27.2 per cent higher compared to September 2021.

Arts and recreation had the largest percentage rise in turnover (9.4 per cent), boosted by large crowds attending the AFL and NRL Finals Series, the FIBA Women’s Basketball World Cup and the start of the Spring Racing Carnival.


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