Amidst consistent growth amongst most sectors in Australia, the Mining industry reported the largest fall in business turnover of the 13 selected industries in May (-6.0%), according to a recent Australian Bureau of Statistics (ABS) report.
Robert Ewing, ABS head of business indicators, said: “Mining turnover fell 6.0% in May, following a 12.1% fall in April, as demand and prices for commodities such as iron ore and coal come off recent highs.
“Increased monthly turnover was seen in 11 of the 13 selected industries in May, after most industries saw falls in turnover in the previous month. Electricity, gas, water and waste services recorded the largest monthly percentage rise, increasing 12.8%, after falling 7.5% in April.”
In year-on-year terms, 12 of the 13 selected industries recorded rises. Increases were led by Construction (+17.6%) while Electricity, gas, water and waste services had the smallest rise (+0.1%).
Through the year to May, the only industry recording a fall in turnover was Mining (-13.5%), the largest negative year-on-year fall for the industry since August 2020 (-14.6%).
