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
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
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.