Monthly business turnover rises in August for eight of 13 industries, say ABS

Monthly business turnover rises in August for eight of 13 industries, say ABS

Photo: Christophe Dion via Unsplash

The manufacturing sector saw a sharp rise in monthly business turnover in August, with the Australian Bureau of Statistics (ABS) revealing it was the strongest among eight of 13 industries to deliver month-on-month growth during the period.

Using data collated from monthly business activity statements from companies with turnover of more than $20 million a year, the ABS also reveals that 10 industry sectors reported year-on-year growth, led by construction which was up 19.3 per cent.

Business turnover in the manufacturing sector was up 6.4 per cent in August compared to July this year, followed closely by arts and recreation which saw a 6 per cent increase.

“The 6.4 per cent rise in turnover for manufacturing can be largely attributed to primary metal and metal product manufacturers, led by businesses involved in precious metal production,” says Robert Ewing, the head of business statistics at ABS.

“Transport equipment manufacturers also contributed to the rise.”

Ewing says the increase recorded by the arts and recreation sector represented a partial recovery from a 7.4 per cent fall in July this year.

Among the other business sectors to record a monthly increase in August, retail trade rose 3.6 per cent, driven by fuel retailing and new motor vehicle sales.

Professional, scientific and technical services was up 1.9 per cent; accommodation and food services rose 1.1 per cent; wholesale trade was up 1 per cent; mining was up 0.9 per cent; and transport, postal and warehousing edged 0.3 per cent higher.

Administrative and support services recorded a 1.5 per cent fall, while information media and technology fell 2.6 per cent and other services were down by 2.6 per cent.

On a year-on-year basis, 10 of the 13 industries included in the indicator recorded rises compared to August last year.

Increases over the year were led by construction (up 19.2 per cent) and other services (up 9.2 per cent), while electricity, gas, water and waste services fell 22.3 per cent and mining dropped 16.5 per cent.

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