Transport Equip Manufacturers Lead Rise In Aug Turnover

Manufacturing recorded a 6.4 per cent rise in monthly turnover in August, the highest of any industry sector, with transport equipment manufacturers a key contributor, new ABS data shows

Eight of 13 industries tracked by the Australian Bureau of Statistics’ Monthly Business Turnover Indicator showed improvement in August, with the biggest jump coming from manufacturing.

The experimental indicator is derived from Australian Taxation Office (ATO) Business Activity Statements (BAS) turnover data from monthly BAS remitters and includes 13 of the 19 industry divisions classified according to the Australian and New Zealand Standard Industrial Classification (ANZSIC), 2006.

Monthly BAS reporting covers businesses with GST annual turnover of $20 million or more and a proportion of smaller businesses that report monthly on a voluntary basis.

In August 2023, manufacturing recorded a 6.4 per cent rise in monthly turnover, ahead of arts and recreation (6 per cent) and retail trade (3.6 per cent), the latter driven by fuel retailing and new motor vehicle sales.

“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,” the ABS’s head of business statistics, Robert Ewing, says in a statement.

“Transport equipment manufacturers also contributed to the rise,” he adds.

The transport, postal and warehousing sector eeked out a 0.3 per cent increase in monthly turnover in August, after registering declines of -1 per cent in June and -0.2 per cent in July.

Five industries registered falls in the month, with the largest declines in other services (-2.6 per cent), information media and telecommunications (-1.6 per cent), and administrative and support services (-1.5 per cent).

Year-on-year, 10 of 13 industry divisions recorded rises in business turnover in August 2023, compared with August 2022. The largest rises were recorded in construction (19.2 per cent), other services (9.2 per cent), professional, and scientific and technical services (7.7 per cent).

The three industry divisions recording falls in business turnover in the month, compared with August 2022, were electricity, gas, water and waste services (-22.3 per cent), mining (-16.5 per cent), and transport, postal and warehousing (-5.8 per cent).

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