Business turnover continued its upward trend in March, according to the latest Australian Bureau of Statistics (ABS) data.
ABS Head of Business Statistics Robert Ewing said business turnover rose 0.5 percent in the month.
“We have seen a continued rise in monthly business turnover since September 2024,” Mr Ewing said.
He said the 13-industry aggregate showed 0.4 percent growth in business turnover in March in seasonally adjusted terms, with eight of the 13 industries rising.
“The Wholesale trade industry led the growth, up 2.2 percent.
“Driving this rise were Basic material wholesaling, which rebounded following a dip in exports in February, and Motor vehicle and motor vehicle parts wholesaling.”
Mr Ewing said rises in these industries were partially offset by falls in five of the 13 industries.
“The largest drops were in Electricity, gas, water and waste services, down 4.1 percent, and Transport, postal and warehousing, down 3.9 percent.
“Both of these industries were impacted by adverse weather conditions across Queensland, New South Wales and Western Australia.”
He said compared to March 2024, turnover was higher for 11 of the 13 industries included in the indicator.
“The industries that saw the strongest annual rises were Manufacturing (+11.9 percent), and Information media and telecommunications (+9.7 percent).
“The industries with annual falls were Mining (-5.9 percent), and Arts and recreation services (-1.4 percent).”
