Seven out of 13 industries in Australia experienced declines in business turnover in October, according to data from the Australian Bureau of Statistics.

Industries heavily reliant on consumer spending, such as arts and recreation services, saw the largest monthly drop at 6%.

Administrative and support services, including travel agents and event ticketing businesses, contributed to a 3.6% overall decline. Lower petrol prices and reduced motor vehicle sales led to a 1.4% fall in retail trade turnover.

In a year-over-year comparison with October 2022, nine industries saw an increase.

Construction (+16.4%), other services (+9.9%), and professional, scientific, and technical services (+5.6%) experienced the most significant rises.

On an annual basis, mining (-14.3%) and electricity, gas, water, and waste services (-7.3%) reported the largest declines, influenced in part by lower commodity prices such as coal and natural gas over the past 12 months.