The latest Monthly Business Turnover Indicator for October 2023, derived from Australian Taxation Office Business Activity Statements, reveals insights into business performance. In seasonally adjusted terms:
- Industry Variances:
- Falls in 7 of the 13 industries.
- Largest fall: Arts and recreation services (-6.0%).
- Largest rise: Mining (1.7%).
- Year-on-Year Comparisons:
- Rises in 9 of the 13 industries.
- Largest rises: Construction (16.4%), Other services (9.9%), Professional, scientific and technical services (5.6%).
- Largest falls: Mining (-14.3%), Electricity, gas, water and waste services (-7.3%), Arts and recreation services (-5.0%).
- Monthly Changes in Selected Industries (September 2023 to October 2023):
- Positive movements in Mining (1.7%), Professional, scientific and technical services (1.6%), Construction (1.3%).
- Negative movements in Administrative and support services (-3.6%), Arts and recreation services (-6.0%).
- Year-on-Year Changes in Selected Industries (October 2022 to October 2023):
- Positive movements in Construction (16.4%), Other services (9.9%), Professional, scientific and technical services (5.6%).
- Negative movements in Mining (-14.3%), Electricity, gas, water and waste services (-7.3%), Arts and recreation services (-5.0%).
- Industry Turnover Analysis:
- Manufacturing, Mining, Wholesale trade, and Retail trade are significant contributors.
- Mining, despite a positive movement, shows a substantial year-on-year decrease.
- Arts and recreation services witness a considerable negative movement.