The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

The Australian Bureau of Statistics has released its latest business turnover figures for the month of August, revealing that eight of the 13 industries recorded a rise, with manufacturing leading the way.

Manufacturing soars

Source: The Australian Bureau of Statistics

Manufacturing climbed 6.4 per cent, which ABS Head of Statistics Robert Ewing said could be attributed to primary metal and metal product manufacturers.

“The 6.4 per cent 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,” he said.

Arts and recreation demonstrated a strong rebound with a six per cent rise in turnover, partially offsetting a 7.4 per cent decline reported in July.

Retail trade also witnessed a positive trend, registering a 3.6 per cent increase. This growth was largely driven by fuel retailing and new motor vehicle sales.

On the flip side, several industries experienced a decline in turnover. Other services recorded the most significant fall, with a 2.6 per cent decrease, followed by Information media and telecommunications, down by 1.6 per cent, and administrative and support services, showing a 1.5 per cent drop.


Year-on-year comparisons for August reveal a broader perspective, with 10 out of 13 industry divisions reporting year-on-year increases in business turnover.

Construction led the way with a substantial 19.2 per cent growth, while Other services recorded a notable 9.2 per cent increase.

The electricity, gas, water, and waste services industry saw the most significant decline, plummeting by 22.3 per cent YoY, followed by mining with a 16.5 per cent drop.

More From The Market Online
The Market Online Video

Market Close: Autumn’s ASX200 record breaking start

The ASX200 has closed the first day of Autumn at a new record 7745.6 points -…
The Market Online Video

Ark Mines (ASX:AHK) improves REE grades at Sandy Mitchell

North Queensland-based REE explorer Ark Mines (ASX:AHK) has proven higher-grade mineralisation is present on-site.

Week 9 Wrap-up: ASX hits 2 new ATHs on US inflation + the headlines that mattered

What a week. As US markets continue to go crazy after the American earnings season (read: NVIDIA), the ASX has done the same. 

Ora Banda Mining secures $30 M placement, marks progress toward second underground mine

Ora Banda Mining (ASX:OBM) has completed a single tranche placement, securing commitments at an issue price…