ABS provides Monthly Business Turnover Indicator data

The Australian Bureau of Statistics (ABS) has provided December 2022 monthly business turnover indicator data. In seasonally adjusted terms, December 2022 monthly business turnover indicator showed:

• Rises in 7 out of 13 published industries.
• Accommodation and food services increased by 5%. It was the largest increase during the month. It grew after a fall of 2.7% in November 2022. The growth in the accommodation and food services industry was driven by food and beverage services.
• The largest fall was in other services. It dropped 6% in December 2022.
• Manufacturing recorded the next largest monthly rise in turnover by 3.6%. Primary metal and metal product manufacturers were leading the increase.
• Arts and recreation dropped 4% for three consecutive weeks.
• Mining turnover declined by 3%. From this space, lower turnover contributions were from coal and liquified natural gas.

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