Energy and Services Sectors See Decrease in Turnover

According to the Australian Bureau of Statistics (ABS), the electricity, gas, water, and waste services industry experienced the largest percentage fall in business turnover in January. Monthly figures showed a 10.1% decrease in turnover due to cooler weather conditions and falling wholesale energy prices as a result of lower coal and gas prices. However, the sector's turnover remains 9.1% higher compared to the same period last year. The information media and telecommunications sector recorded the second-largest monthly fall in turnover (-1.9%), followed by accommodation and food services (-1.7%).

Source: Australian Bureau of Statistics

Meanwhile, the transport, postal, and warehousing industry recorded a 1.4% decline in turnover due to weaker logistics, freight, and shipping services, offset partially by air travel services' continued strength. On the other hand, the "Other services" industry and mining increased by 4.5% and 3.3%, respectively, in January. All selected industries recorded year-on-year increases, led by accommodation and food services (+27.2%), mining (+26.3%), and administration and support services (+22.8%).

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