According to the Australian Bureau of Statistics (ABS), business turnover rose 0.6% in January on a trend basis.
Zaneta Georgievski, ABS head of business statistics, said: "This is the sixth consecutive rise in monthly business turnover in trend terms, making it the strongest period of sustained growth in the 13-industry aggregate since August 2022.
"In seasonally adjusted terms, the 13-industry aggregate showed a 1.4% rise in business turnover, with 10 of the 13 industries growing in January.
“The strongest rises were in the Professional, scientific and technical services industry, up 4.3%, and Construction, which grew 2.8%.”
Electricity, gas, water, and waste services experienced the largest turnover drop (-4.5%), following a rise in December.
The turnover in 12 out of 13 industries included in the indicator was higher than it was in January 2024.
Among the industries that saw the biggest increases were Information media and telecommunications (+10.1%), Construction (+9.9%), and Electrical, gas, water and waste services (+9.2%).
Mining (-11.6%) was the only industry to experience an annual decline.
Business Activity Statement (BAS) data from the Australian Taxation Office (ATO) is used to calculate the Monthly Business Turnover Indicator.
The monthly BAS reporting is required for businesses whose GST annual turnover is $20 million or more, as well as for some smaller businesses that voluntarily report.
ANZSIC, 2006, classifies 13 industries and 41 subdivisions into 13 industry divisions and 41 industry subdivisions. In addition to quarterly economic indicators, it provides timely and frequent insight into economic activity.
