Business turnover in Australia in May showed a modest increase of 0.2% in trend terms, according to the  Australian Bureau of Statistics.

According to Robert Ewing, ABS head of business statistics, the 13-industry aggregate remained flat, mainly reflecting stable or declining trends across industries in seasonally adjusted terms, resulting in a 0.6% decrease.

However, arts and recreation saw a rise of 2.8%, driven by increased gambling activity, while information media and telecommunications grew 2.6%, fueled by demand for generative artificial intelligence in the publishing subdivision.

Compared to May 2023, business turnover increased in 11 out of 13 industries, with construction, information media, and telecommunications showing the largest annual rises at 6.4%, while mining experienced the largest decline at 5.5%.