Business turnover continues to rise in March: Australia

The Monthly Business Turnover Indicator increased in 12 of the 13 selected industries in March 2022 (seasonally adjusted), according to figures released today by the Australian Bureau of Statistics (ABS).

Branko Vitas, Head of the Business Indicators Branch, said “The easing of COVID-19 density restrictions in most jurisdictions allowed entertainment and hospitality venues and events to operate at higher capacities in March, which led to rises for Arts and recreation services (18.3 per cent) and Accommodation and food services (5.9 per cent).”

Business turnover index, selected industries, seasonally adjusted

Accommodation and food servicesArts and recreation services
Mar-2082.584.6
Apr-2050.745.8
May-2051.446.8
Jun-2069.557.5
Jul-2083.978.2
Aug-2080.977.9
Sep-2081.876.6
Oct-2083.582.8
Nov-2084.486.8
Dec-2094.892.1
Jan-2196.193.8
Feb-2194.495.8
Mar-2199.6104.2
Apr-21106.8118.6
May-21103.6116.4
Jun-2199.598.1
Jul-2182.2101.9
Aug-2176.487.8
Sep-2178.686.6
Oct-2188.391.8
Nov-2199.5103
Dec-21110107.6
Jan-22102.596.7
Feb-22105.8104.4
Mar-22112123.5

Electricity, gas, water and waste services rose 7.3 per cent in March, with electricity retailers seeing strong increases in turnover as electricity prices and demand rose across most regions.

Wholesale trade was the only industry to record a fall in turnover in March, decreasing by 4.2 per cent, following strong rises in January and February.

All industries have recorded year-on-year increases in business turnover, ranging from rises of 6.0 per cent for Construction, to 38.6 per cent for Mining. Rises in commodity prices, including coal, natural gas and iron ore, have contributed to higher turnover in the Mining industry over the past 12 months.

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