The Australian Bureau of Statistics (ABS) reported today that turnover declined for nine of the 13 chosen industries in April, with mining having the highest percentage drop (-10.6%).
Kate Lamb, ABS head of business indicators, said: “Nine industries saw a fall in monthly business turnover this month, which hasn’t been seen since July 2021 when COVID-19 Delta cases were on the rise.
“Coal and iron ore miners led the mining industry’s fall as prices fell and exports were lower, according to International Trade data released yesterday.”
Electricity, gas, water, and waste services saw the second-largest monthly turnover drop (-9.4%), reversing March’s 9.3% growth. Transport, postal, and warehousing (-6.8%) saw reduced turnover in airline and shipping companies.
Accommodation and food services (+1.7%) and retail trade (+1.3%) led four industries with small increases.
11 of the 13 industries in the index grew year-over-year despite monthly drops.
Construction (+18.0%), Other services (+13.6%), and Accommodation and food services (+11.1%) lead this.
Only mining and information media and telecommunications fell year-over-year.
“This is the first time any industry has recorded negative year-on-year growth since January 2022, when COVID-19 Omicron cases peaked,” Ms Lamb added.
| March 2023 to April 2023 (%) | April 2022 to April 2023 (%) | |
|---|---|---|
| Accommodation and food services | 1.7 | 11.1 |
| Retail trade | 1.3 | 4.7 |
| Manufacturing | 0.9 | 7.9 |
| Construction | 0.2 | 18.0 |
| Wholesale trade | -0.6 | 3.7 |
| Professional, scientific and technical services | -0.7 | 8.8 |
| Information media and telecommunications | -0.8 | -0.1 |
| Arts and recreation services | -3.3 | 6.7 |
| Other services | -3.6 | 13.6 |
| Administrative and support services | -5.6 | 10.8 |
| Transport, postal and warehousing | -6.8 | 1.4 |
| Electricity, gas, water and waste services | -9.4 | 4.9 |
| Mining | -10.6 | -5.2 |