Business turnover across a 13-industry aggregate fell 0.1 per cent in seasonally adjusted terms in May 2025, with retail adding to the slump.
This is according to new data released by the Australian Bureau of Statistics (ABS).
The monthly slip in retail of 0.8 per cent in May follows a 0.6 per cent lift in business turnover in April. Retail business turnover also fell year-on-year in May 2025 by 0.3 per cent, down from a 1.1 per cent yearly lift in April.
ABS head of business statistics Robert Ewing said the latest overall fall in business turnover is the first slip since October 2024.
“Arts and recreation services industry had the largest fall, down 5.5 per cent. The gambling activities subdivision drove this drop with a fall of 11.2 per cent, following a rise in April,” Ewing said.
“Other notable falls were for manufacturing, down 1.3 per cent, and retail trade, down 0.8 per cent.
“Softening the fall, we saw rises in electricity, gas, water and waste services, up 1.7 per cent, and wholesale trade, up 1.1 per cent.”
Compared to May 2024, turnover was higher for 10 of the 13 industries included in the indicator, except for retail. Business turnover was 3.3 per cent higher than in May 2024.
The industries that saw the largest annual rises were Accommodation and food services (up 11.9 per cent) and manufacturing (up 8.5 per cent).
Meanwhile, the mining industry (down 4.6 per cent) and arts and recreation services (down 3.7 per cent) saw annual falls.
In trend terms, the 13-industry aggregate showed a 0.1 per cent rise in business turnover in May.