ABS reported a 3.7% seasonally adjusted increase in business turnover for the construction industry in September.
Robert Ewing (pictured above), ABS head of business statistics, highlighted ongoing growth in the sector.
“Construction turnover has continued to rise over the last three months due to greater activity on major civil and commercial projects,” Ewing said.
Additional increases in utilities and telecommunications
The electricity, gas, water, and waste services, along with information media and telecommunications industries, also saw substantial growth, each rising by 3.4%.
Ewing attributed the information media and telecommunications increase to “continued demand in the publishing subdivision.”
While several industries experienced growth, turnover fell in four out of the 13 sectors tracked.
Mining recorded the most significant decline, with turnover dropping by 1.5%, primarily due to reduced activity in oil and gas extraction, according to Ewing.
Across the 13 tracked industries, business turnover saw a slight 0.2% rise in seasonally adjusted terms but a 0.1% dip in trend terms.
Comparing year-over-year figures to September 2023, turnover increased in 10 of the 13 industries.
The most substantial annual gains were in electricity, gas, water, and waste services (up 19.3%) and construction (up 8.0%). In contrast, mining experienced the largest annual decrease, down 11.9%.
For more details, read Monthly Business Turnover Indicator, September 2024. To compare with the previous month’s figures, click here.
Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
