Australian business turnover surged in July, with the biggest increase in almost three years.
Australian Bureau of Statistics (ABS) Head of Business Statistics Robert Ewing said business turnover rose 2.9 percent in July, in seasonally adjusted terms.
“The rise was the largest since May 2022, with growth in turnover seen across all industries,” Mr Ewing said.
“The Electricity, gas, water and waste division grew 15.8 percent due to a surge in wholesale electricity and gas prices. This division is now at a record high, breaking the previous record set in August 2022.”
He said other notable industry rises were in Professional, scientific and technical services, up 4.6 percent, Manufacturing 4.2 percent and Construction 3.8 percent.
Mr Ewing said business turnover was 6.3 percent higher than in July 2024, with 12 of the 13 industries reporting rises over the year.
He said the only industry with an annual fall was Mining (-1.7 percent).
