Business turnover grew 0.7% in February: ABS
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The news: Business turnover rose 0.7% in February, according to new figures released by the Australian Bureau of Statistics (ABS).
The numbers: The bureau's 13-industry aggregate indicator showed a 0.7% rise in trend terms and a 0.2% rise seasonally adjusted terms, with mixed results across industries during the month.
The manufacturing industry led gains, climbing 4.6%, driven by a strong rise in primary metal and metal product manufacturing.
Overall growth was softened by falls in seven industries, including mining (-2.5%) and wholesale trade (-2%).
Compared to February 2024, turnover was higher for 11 of the 13 industries included on the indicator.
The industries that saw the strongest annual rises were manufacturing (14.2%) and information media and telecommunications (11.3%). The industries with annual falls were mining (-6.3%) and arts and recreation services (-4.7%).
The source: ABS
