BUSINESS ON REBOUND

BUSINESS turnover increased for all 13 selected industries in February this year, according to the Australian Bureau of Statistics.

Business Indicators branch head Branko Vitas said most industries recovered the falls during the peak of the Omicron Covid-19 variant in January this year.

“In February, six industries recorded rises in turnover that were greater than 5 per cent,” Mr Vitas said.

“The increase in business turnover comes after Covid-19 cases peaked, there was a large fall in hours worked and businesses experienced labour shortages and supply disruptions in January.”

Transport, postal and warehousing recorded the largest rise (9.3 per cent) compared with January.

The wholesale trade and mining industries also continued to benefit from rising commodity prices.