Manufacturing revenues down 3.8 per cent in July, says ABS

Manufacturing was one of seven industries in the Australian Bureau of Statistics’s Monthly Business Turnover Indicator to see a decline in revenues in July.

The experimental indicator, based on Business Activity Statement lodgings from those who submit month-by-month, tracks 13 sectors. Seven fell in the month, in seasonally adjusted terms.

The largest fall was in mining, which declined by 10.1 per cent, following a peak result in June.

Manufacturing revenues fell 3.8 per cent over July, said the ABS in a statement on Friday. This was “following five consecutive monthly rises, partly reflecting supply chain disruptions and labour shortages in the industry.”

Six of seven industries grew their turnover, with the electricity, gas, water and waste services category leading at 5.0 per cent.

The indicator takes into account companies with a turnover of $20 million or more, as well as some smaller businesses that report by month voluntarily.

The experimental Business Turnover Indicator was first published in October last year.

The full results for July can be accessed here.

Picture credit: ABS