Business turnover in trend terms saw a modest increase of 0.1% in April, according to the latest data from ABS.
This marks a period of stability, with the business turnover 13-industry aggregate maintaining a steady pace over the last six months.
In seasonally adjusted terms, the aggregate experienced a significant uptick, rising 1.5% in April – the largest increase since September 2023.
“The most prominent rise was from the professional, scientific and technical services industry, up 5.5%,” said Robert Ewing (pictured above), ABS head of business statistics, in a media release. “This was followed by wholesale trade with a rise of 3.2% and transport, postal and warehousing, which grew 3.1%.”
The notable growth in the professional, scientific, and technical services industry was primarily fuelled by increased activities in management and related consulting services, advertising services, and scientific research services.
These sectors showed robust performance, contributing significantly to the overall increase in turnover.
Conversely, the arts and recreation services industry experienced a downturn, marking a decline for the second consecutive month and returning to levels seen prior to the unusually strong growth in December 2023 and February.
When compared to April 2023, turnover has increased across the board for all industries measured except for the mining industry, which saw a decline of 8.8%.
The sectors with the most substantial annual increases included electricity, gas, water, and waste services, which soared by 14.8%, followed by the construction and information media and telecommunications industries, both growing by 9.2%, ABS reported.
For more details, read Monthly Business Turnover Indicator, April 2024. To compare the latest results with the previous month’s, click here.
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