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- The arts and entertainment industry posts strong growth in March as much of the country sees COVID-19 restrictions ease almost entirely, according to the ABS
- Entertainment and events venues were able to operate at higher capacities, resulting in an 18.3 per cent rise in business turnover for the arts and recreation services industry
- According to the ABS data, 12 out of the 13 measured industries increased business turnover in March, with wholesale trade the only industry to fall, shrinking by 4.2 per cent
- Nevertheless, all sectors are up year-on-year, with soaring commodity prices seeing the mining industry grow business turnover by 38.6 per cent through the year
The arts and entertainment industry posted strong growth in March as much of the country saw COVID-19 restrictions eased almost entirely, according to the Australian Bureau of Statistics (ABS).
Alongside its latest stats on retail trading volumes, the ABS today reported business turnover around Australia increased in 12 out of the 13 measured industries in March.
ABS Head of Business Indicators Branch Branko Vitas said with the easing of restrictions across most of the country, entertainment, hospitality, and events venues were able to operate at higher capacities and service more guests.
The result was an 18.3 per cent rise in business turnover for the arts and recreation services industry over March. Accommodation and food services rose 5.9 per cent.
The electricity, gas, water and waste services industry posted a 7.3 per cent increase in business turnover, this was driven by soaring electricity prices in most regions rather than Australia’s ongoing economic recovery.
Meanwhile, wholesale trade was the only industry to record a fall in turnover last month, shrinking by 4.2 per cent. This followed strong rises in January and February.
Looking at year-on-year business turnover, soaring commodity prices over the past year have added some extra sheen to Australia’s mining industry, with business turnover in mining up a whopping 38.6 per cent through the year.
The transport, postal, and warehousing industry has also recorded stellar growth through the year of 33.6 per cent.
All other industries have recorded year-on-year increases in business turnover, with construction recording the smallest rise but still up six per cent.
