The Construction industry recorded the largest percentage increase in business turnover in February, up 4.6% according to monthly figures released today by the Australian Bureau of Statistics (ABS).
Robert Ewing, ABS head of business indicators, said: “After a fall in January of 3.3%, turnover for non-residential builders and engineering firms drove the February rise, as the industry works through a large pipeline of infrastructure projects.
The industry is up 15.4% on the same time last year, reaching its highest level since January 2010 when the turnover indicator series began.
“The cost of construction has been rising due to increasing input material prices and high labour demand,” said Mr Ewing.
Administrative and support services recorded the second largest monthly rise in turnover (+2.4%), followed by Transport, postal and warehousing (+2.1%).
Mining saw the largest fall in turnover (-3.7%), aligning with a decline in iron ore exports and a drop in global lithium prices. This was followed by Manufacturing, which fell 2.9%, with weakness seen across metal and chemical manufacturers.
All 13 selected industries recorded year-on-year increases, led by Accommodation and food services and Administration and support services (both +21.7%), followed by Manufacturing (+15.7%).
