Live music, gyms recorded the biggest falls in turnover in January

Omicron affected consumer confidence but some industries have been affected more than others.

Live music venues, galleries, museums and gyms suffered the biggest hit in January as Omicron affected business turnover, latest ABS figures reveal.

Turnover in arts and recreation businesses dropped 10.6 per cent in January, making it the most affected sector as Omicron cases rose along with consumer caution and restrictions.

The sector includes museums, galleries, live performances and events and exhibits and facilities for amusement, sports and recreation.

But in the year to January 2022, turnover in the arts and recreation actually rose by two per cent.

The latest Australian Bureau of Statistics monthly business turnover indicator reveals seasonally adjusted business turnover fell in 10 of 13 selected industries in January.

Turnover in the arts and recreation sector fell 10.6 per cent in January. Photo: iStock

Accommodation and food services had the second biggest drop, falling by 6.6 per cent followed by construction, which fell 5.9 per cent.

In contrast, wholesale trade recorded the largest rise turnover, with 7.1 per cent.

Petroleum wholesalers generally reported higher turnover as petrol prices rose, while agricultural wholesalers benefited from a bumper crop season, the ABS said.

Wholesale trade recorded the largest rise in turnover in January.

ABS head of the business indicators branch, Branko Vitas, said the data revealed some industries were impacted by consumer caution over the period as Covid cases and restrictions increased.

Despite most industries experiencing falls in turnover between December 2021 and January 2022, almost all had higher turnover compared to January 2021, the data found.

For example, in the year to January 2022, turnover in the arts and recreation actually rose by two per cent.

Over the year, mining (30.3 per cent) and transport, postal and warehousing (23.8) recorded the biggest rises.

The indicator is based on Australian Taxation Office business activity statements from businesses with GST annual turnover of at least $20 million and some smaller businesses that voluntarily report monthly.

Originally published as Live music, gyms recorded the biggest falls in turnover in January