August 12, 2023

Monthly Business Turnover Indicator

In seasonally adjusted terms, the June 2023 monthly business turnover indicator in Australia showed:
  • Rises in 8 of the 13 published industries
  • The largest rise was in Electricity, gas, water and waste services (12.0%)
  • The largest fall was in Accommodation & food services (-2.6%)
  • Through the year, rises were seen in 10 of 13 published industries

Total turnover differs between industries. This should be considered when analysing month-to-month movements in the context of overall economic activity. The chart below shows the monthly movements in the turnover indicator for June 2023 (represented by colour) and the selected industries’ estimated share of total turnover for the 2021-22 financial year (represented by circle size).

Business turnover differs from the National Accounts concept of output. For example, the value of goods sold by wholesalers and subsequently retailers are reflected in turnover for both industries while National Accounts output measures the margins gained by each industry.

Industry analysis and charts

In June 2023, 8 of the 13 industry divisions included in the indicator showed rises in monthly turnover in seasonally adjusted terms. The largest rises in monthly turnover were seen in:

  • Electricity, gas, water and waste services (12.0%)
  • Information, media and telecommunications (4.6%)
  • Other services (3.5%)

Five industries showed falls in June 2023, the largest falls in monthly turnover were seen in:

  • Accommodation and food services (-2.6%)
  • Professional, scientific and technical services (-2.5%)
  • Administrative and support services (-2.1%)

Year-on-year, 10 of 13 industry divisions recorded increases in business turnover in June 2023, compared with June 2022. The largest rises were recorded in:

  • Construction (18.8%)
  • Other services (16.9%)
  • Information, media and telecommunications (11.4%)

Mining (-18.1%) had the largest year-on-year fall in business turnover in June 2023, compared with June 2022.

Source: Australian Bureau of Statistics
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