Electricity, gas, water and waste services saw the largest percentage rise in business turnover in October (2.5 per cent) after falling sharply in September, according to monthly figures released today by the Australian Bureau of Statistics (ABS).
Kate Lamb, ABS head of business indicator statistics, said: "In October, turnover for the Electricity, gas, water and waste services industry was 16.8 per cent below the peak in August, but 28.2 per cent higher compared to the same time last year. This rise has followed a period of volatility for wholesale energy prices."
"Wholesale trade and Construction both saw modest rises in turnover of 1.8 per cent. The increase in Wholesale trade was driven by telecommunication goods and pharmaceutical sales, while continued investment in public infrastructure projects contributed to the rise in Construction turnover."
Overall, the Monthly Business Turnover Indicator rose in nine of the 13 reported industries in October 2022. The monthly percentage movements were less volatile than recent months, ranging from a 2.5 per cent rise for Electricity, gas, water and waste services, to a 3.9 per cent fall for Arts and recreation services.
| September 2022 to October 2022 (%) | October 2021 to October 2022 (%) | |
|---|---|---|
| Electricity, gas, water and waste services | 2.5 | 28.1 |
| Construction | 1.8 | 17.7 |
| Wholesale trade | 1.8 | 17.8 |
| Administrative and support services | 1.4 | 25.6 |
| Information media and telecommunications | 1.1 | 15.8 |
| Mining | 0.9 | 34.4 |
| Accommodation and food services | 0.8 | 43.4 |
| Manufacturing | 0.5 | 17.1 |
| Professional, scientific and technical services | 0.4 | 13.4 |
| Other services | -1.6 | 12.5 |
| Transport, postal and warehousing | -2.4 | 35.8 |
| Retail trade | -2.5 | 17.1 |
| Arts and recreation services | -3.9 | 42.8 |
All industries recorded year-on-year increases in business turnover, as COVID-19 Delta lockdowns in October 2021 continued to impact some states and territories. Industries that are reliant on discretionary spending such as Accommodation and food services and Arts and recreation services, experienced the largest year-on-year percentage rises (43.4 per cent and 42.8 per cent respectively).
More detailed analysis and information on the methodology is available in Monthly Business Turnover Indicator.
