Figures released today by the Australian Bureau of Statistics (ABS) show that the mining industry’s business turnover increased by 4.9% for the fourth consecutive month in November.
ABS Head of Business Statistics Robert Ewing reported that “Recent rises in Mining turnover were due to higher iron ore prices and renewed demand for coal.”
He added that 10 out of 13 industries had increases in their business turnover in November. The arts and recreation services rose by 6.2%, while the retail trade and transport as well as the postal and warehousing industries each saw a 1% increase in their business turnover. Ewing noted that retailers and parcel delivery businesses benefitted from the Black Friday sales period.
The report from the ABS also said 10 of the 13 industries that were included in the business turnover indicator rose when compared to November 2022. The Construction industry saw the biggest annual increase with 15.2%, followed by Accommodation and food services which saw an 8.1% increase. Meanwhile, Other services reported a 7.8% increase.
The industries with the largest falls annually include Mining with an 8.7% decrease and Electricity, gas, water and waste services with a 3.9% decrease.
