Monthly Business Turnover Indicator
Australian Economy Weekly Update — Week Ending 10 October 2025
The Australian Bureau of Statistics’ August 2025 Monthly Business Turnover Indicator (MBTI) showed a broad softening in business activity. Turnover across the 13 monitored industries fell 2.2% month-on-month, the sharpest decline since April 2023. Nine industries recorded falls, led by electricity, gas, water and waste services (-14.1%), manufacturing (-5.8%), information media and telecommunications (-3.7%), and mining (-1.9%). Despite this, turnover remained 4.5% higher than a year earlier, and the trend measure continued to rise modestly (+0.3%), suggesting the broader business environment remains stable but slowing.
The month-on-month decline highlights ongoing volatility across key sectors, particularly those sensitive to commodity and energy prices. It also suggests softer demand conditions in manufacturing and communications, signaling that economic momentum likely eased in the September quarter. While some of the weakness reflects temporary price effects (via energy rebates), the data suggest businesses are facing increased cost pressures and uneven demand.
The weaker turnover may support a more cautious stance from the RBA, as softer business activity could help contain inflation without further rate hikes. However, given the MBTI’s limited coverage of monthly BAS reporters, the results should be interpreted carefully. Overall, the August release indicates that Australia’s economy remains on a moderate but fragile growth path, with early signs of slowing momentum heading into late 2025.
Source: Australian Bureau of Statistics, Monthly Business Turnover Indicator, October 2025