Arts and recreation services recorded a business turnover decline of 6.6 per cent in November, following a 3.2 per cent fall in October, according to new Australian Bureau of Statistics (ABS) figures.
ABS industry statistics head Sybille McKeown said that after growth peaked at 52.8 per cent in September 2022, turnover for the arts and recreation services industry dropped to a 19.3 per cent increase through the year to November 2022.
“The positive impact from the relaxing of COVID-19 Delta lockdowns towards the end of 2021 has been replaced with declining ‘discretionary’ spending in the face of rising interest rates and inflation,” Ms McKeown said.
The ABS said electricity, gas, water and waste services also had a percentage decline of 4.4 per cent, as “wholesale electricity prices in the National Electricity Market continue to fall from recent highs”.
“The ‘Other services’ industry led the rises, up 9.1 per cent, driven by repair and maintenance businesses, followed by Retail trade (+2.9 per cent) and Mining (+1.2 per cent),” the ABS said.
“Business turnover decreased in eight of the 13 selected industries in November 2022. This is the first time that most of the industries experienced a monthly fall in turnover since January 2022.
“All industries recorded year-on-year increases in business turnover, led by Mining (+37.4 per cent), Transport, postal and warehousing (+28.3 per cent) and Electricity, gas, water and waste services (+24.0 per cent).”
Details: www.abs.gov.au/media-centre/media-releases/arts-and-recreation-turnover-falls-again-november.
