The Australian Bureau of Statistics found that business turnover rose in 12 of the 13 selected industries in August 2022, with an 8.2 per cent rise in August driven by shipping and logistics companies.
Merchandise imports also hit a record high in the month, as reported in the latest International Trade in Goods and Services data.
The “other services” industry had the next largest percentage rise in turnover (4.6 per cent), followed by manufacturing (4.1 per cent) and mining (4 per cent). Information media and telecommunications was the only industry to record a fall in turnover (-0.4 per cent).
All industries recorded year-on-year increases in business turnover, led by accommodation and food services (72.1 per cent) and electricity, gas, water and waste services (46.9 per cent). The strength in accommodation and food compared to the same time last year comes as COVID-19 lockdown restrictions impacted turnover in August 2021.
