Strong growth in energy industry turnover continues: Australia

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

Branko Vitas, head of Business Indicators at the ABS, said: “Electricity, gas, water and waste services was the industry with the largest percentage growth in business turnover for the second consecutive month, underpinned by significant price rises for domestic electricity and gas supply.”

“After falling by 5.6 per cent in April, turnover in the Electricity, gas, water and waste services industry rose by 23.0 per cent in May and 16.7 per cent in June – or 43.4 per cent across the two months.”

Business turnover indicator, Electricity, gas, water and waste services, seasonally adjusted

Business turnover index (pts)Monthly percentage change (%)
Jun-2091.10.5
Jul-2091.30.3
Aug-2091.80.5
Sep-2089.9-2.0
Oct-2090.10.2
Nov-2089.3-0.9
Dec-2093.85.0
Jan-2189.1-5.0
Feb-2188.8-0.3
Mar-2186.6-2.6
Apr-2192.36.6
May-2195.33.3
Jun-21102.47.4
Jul-21103.61.2
Aug-21103.2-0.4
Sep-2194.7-8.3
Oct-2195.50.8
Nov-2193.6-2.0
Dec-2199.05.7
Jan-2297.5-1.5
Feb-2298.81.4
Mar-22105.66.9
Apr-2299.7-5.6
May-22122.623.0
Jun-22143.016.7

Index base period: July 2019 = 100.0.

Turnover in the Mining industry rose by 5.7 per cent in June, increasing for the seventh consecutive month. Increased international demand for commodities and domestic competition for gas and thermal coal contributed to higher turnover in the Mining industry over this period.

Of the five industries to record falls in business turnover in June, the Arts and recreation services industry saw the largest decrease (3.6 per cent). This was the second consecutive monthly decline for this industry.

All industries recorded year-on-year increases in business turnover at June 2022, ranging between 42.3 per cent for Mining and 3.8 per cent for Construction.

Business turnover indicator, change in turnover, seasonally adjusted

May 2022 to June 2022 (%)June 2021 to June 2022 (%)
Electricity, gas, water and waste services16.739.7
Mining5.742.3
Professional, scientific and technical services5.29.4
Other services4.96.6
Transport, postal and warehousing3.433.9
Construction2.63.8
Manufacturing2.527.4
Accommodation and food services1.420.5
Wholesale trade-0.113.5
Administrative and support services-0.621.3
Retail trade-1.915.4
Information media and telecommunications-2.117.6
Arts and recreation services-3.620.9

More detailed analysis and information on the methodology is available in Monthly Business Turnover Indicator.

/ABS Public Release. This material from the originating organization/author(s) may be of a point-in-time nature, edited for clarity, style and length. The views and opinions expressed are those of the author(s).View in full here.