Business turnover bounced back in eight of 13 selected industries in August, with the manufacturing industry reporting the largest monthly jump, according to fresh figures from the Australian Bureau of Statistics.
“The 6.4% rise in turnover for manufacturing can be largely attributed to primary metal and metal product manufacturers, led by businesses involved in precious metal production. Transport equipment manufacturers also contributed to the rise,” said Robert Ewing (pictured above), ABS head of business statistics.
The second largest increase was recorded by arts and recreation, which was up +6%, partially recovering from a 7.4% decline the previous month. Retail trade businesses, meanwhile, registered a +3.6% increase, driven by fuel retailing and new motor vehicle sales.
In contrast, the sectors that recorded the largest falls in turnover in August included other services (-2.6%), information media and telecommunications (-1.6%), and administrative and support services (-1.5%).
Of the 13 industries included in the indicator, 10 recorded increases compared to August last year. Gains over the year were led by construction (+19.2%) and other services (+9.2%), while electricity, gas, water, and waste services and mining declined by 22.3% and 16.5%, respectively, ABS reported.
For more information, view the Monthly Business Turnover Indicator, August 2023.
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