Business turnover fell 0.1% in May: ABS
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The news: Business turnover fell 0.1% in May, its first monthly decline since October last year, according to new figures released by the Australian Bureau of Statistics (ABS).
The numbers: The arts and recreation services industry had the largest fall, down 5.5%. The gambling activities subdivision drove this drop with a fall of 11.2%, following a rise in April.
Other notable falls were for manufacturing, down 1.3%, and retail trade, down 0.8%.
Meanwhile, electricity, gas, water and waste services turnover lifted 1.7%, and wholesale trade rose 1.1%.
Business turnover was 3.3% higher compared to May 2024, and higher for 10 of the 13 industries included in the indicator.
The industries that saw the largest annual rises were accommodation and food services (11.9%) and manufacturing (8.5%).
The mining industry (-4.6%) and arts and recreation services (-3.7%) saw annual falls.
The source: ABS
