[adning id=”12070″]

[adning id=”12070″]

Turnover falls for consumer-facing industries

Seven of 13 industries reported falls in business turnover in October, according to figures released today by the Australian Bureau of Statistics (ABS).

Robert Ewing, ABS head of business statistics, said falls were seen across industries that rely heavily on consumer spending.

“Arts and recreation services reported the largest monthly drop in business turnover, falling 6.0 per cent, while travel agents and event ticketing businesses contributed to the 3.6 per cent fall for Administrative and support services.

“Lower petrol prices and motor vehicle sales drove the 1.4 per cent fall for Retail trade turnover.”

Compared to October 2022, nine of the 13 industries included in the indicator rose in contrast to the monthly falls. Industries that saw the biggest rises were Construction (+16.4 per cent), Other services (+9.9 per cent), and Professional, scientific and technical services (+5.6 per cent).

SBW24
SUV_Expo_2024_Meblbourne

Annually, the largest falls were in Mining (-14.3 per cent), and Electricity, gas, water and waste services (-7.3 per cent). This was partly driven by lower commodity prices like coal and natural gas over the past 12 months.

Facebook
Twitter
LinkedIn
Email
Print

Leave a Reply

Your email address will not be published. Required fields are marked *

SUBSCRIBE FREE
SME NEWS BRIEFS

Get breaking news delivered
This field is for validation purposes and should be left unchanged.

RECEIVE GOVT GRANT OF $10K to $250K*.

Austrade Approved Business Events
AVAILABLE NOW APPLY BEFORE 30th MARCH 2021 (Condition apply)

  • ABF Events are approved and listed below have been certified by Austrade on the Schedule of Approved Business Events.
  • This allows exhibitors, sponsors, delegates and partners to participate in the Business Events Grant Program. Note event bookings need to be confirmed ASAP to participate in the grant program
  • The program provides 50% rebate (based on a minimum spend of $20k) for approved items including ABF event-media packages, exhibition stands, corporate function tables, delegate registrations.
  • Govt Grant applications are now open until the 30 March. Please contact ABF to discuss how we can assist, we have experts to assist grant applications.
  • Grant funding will cover up to 50% of eligible expenditure incurred in participating at pre-approved business-to-business events as buyers or sellers during the 2021 calendar year.  All grant applications must be submitted for approval via the following link: https://business.gov.au/grants-and-programs/business-events-grants
  • For further information please see this fact sheet.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?