Business turnover fell in seven of the 13 selected industries in July 2022, according to monthly figures released today by the Australian Bureau of Statistics (ABS).
Kate Lamb, head of Business Indicators at the ABS, said: "The mining industry saw the largest percentage fall in business turnover in July, from its recent peak in June, in line with lower coal and iron ore exports in July."
"The July 10.1 per cent fall in mining follows seven months of consecutive rises, as commodity prices surged over the first half of the year, something we also saw in the latest National Accounts and Balance of Payments data."
Turnover in the Manufacturing industry fell by 3.8 per cent in July, following five consecutive monthly rises, partly reflecting supply chain disruptions and labour shortages in the industry.
| Mining (pts) | Manufacturing (pts) | |
|---|---|---|
| Jul-20 | 82.4 | 97.8 |
| Aug-20 | 84.2 | 97.4 |
| Sep-20 | 88.4 | 95.8 |
| Oct-20 | 93.6 | 99.1 |
| Nov-20 | 93.6 | 100.4 |
| Dec-20 | 97.9 | 102.4 |
| Jan-21 | 100.5 | 105.7 |
| Feb-21 | 100.6 | 102.2 |
| Mar-21 | 101.5 | 98.5 |
| Apr-21 | 106.5 | 102.2 |
| May-21 | 112.5 | 102.3 |
| Jun-21 | 116.6 | 104.6 |
| Jul-21 | 124.0 | 105.3 |
| Aug-21 | 123.9 | 106.7 |
| Sep-21 | 123.9 | 105.9 |
| Oct-21 | 123.0 | 106.7 |
| Nov-21 | 122.8 | 108.6 |
| Dec-21 | 126.0 | 110.5 |
| Jan-22 | 133.2 | 108.5 |
| Feb-22 | 139.1 | 110.8 |
| Mar-22 | 144.9 | 117.8 |
| Apr-22 | 153.4 | 118.7 |
| May-22 | 158.6 | 124.2 |
| Jun-22 | 169.6 | 128.1 |
| Jul-22 | 152.4 | 123.2 |
Index base period: July 2019 = 100.0.
Of the six industries to record rises in business turnover in July, the Electricity, gas, water and waste services industry saw the largest increase (5.0 per cent), with wholesale gas and electricity prices remaining elevated. This was the third consecutive monthly rise for the industry.
All industries recorded year-on-year increases in business turnover in July 2022, compared with the early phase of the COVID-19 Delta period in July 2021.
| June 2022 to July 2022 (%) | July 2021 to July 2022 (%) | |
|---|---|---|
| Electricity, gas, water and waste services | 5.0 | 44.8 |
| Accommodation and food services | 3.7 | 51.7 |
| Retail trade | 2.9 | 21.9 |
| Wholesale trade | 2.2 | 14.5 |
| Administrative and support services | 0.9 | 24.0 |
| Professional, scientific and technical services | 0.7 | 11.3 |
| Transport, postal and warehousing | -1.1 | 37.8 |
| Arts and recreation services | -2.3 | 13.3 |
| Construction | -2.5 | 4.5 |
| Information media and telecommunications | -3.0 | 16.4 |
| Manufacturing | -3.8 | 17.0 |
| Other services | -6.1 | 2.4 |
| Mining | -10.1 | 22.9 |
More detailed analysis and information on the methodology is available in Monthly Business Turnover Indicator.
