September business sales update
If yours is one of the many businesses that has hit a slump over the last 24 months, you’ll be happy with the findings of our recent Commonwealth Bank Business Sales Indicator (BSI) report. For the first time in almost two years, September saw the strongest sales growth since late 2009 as the BSI snuck up by 0.23 per cent in trend terms. This increase marks the third lift in sales over the last quarter and a hopeful indicator of better times to come.
Performance is on the rise in several Australian states and sectors. September saw only three states and territories take in weaker sales in trend terms compared to four in August. The Northern Territory was the top performer here, rising 1.0 per cent. Meanwhile, Tasmania recorded its strongest sales in 29 months with a bump of 0.5 per cent. New South Wales crept up 0.3 per cent — the best recorded numbers since December — and Victoria rose 0.2 per cent. Queensland showed flat sales, while Western Australia was the weakest link with a 0.6 per cent decrease. ACT fell 0.4 per cent, and South Australia dropped 0.2 per cent.
More sectors showed increased performance this month as well, with only four reporting weaker sales compared to six in August. Wholesale Distributors & Manufacturers performed the best with an increase of 0.9 per cent. Repair Services and Business Services both rose 0.8 per cent, while Transportation came up by 0.7 per cent.
September showed the strongest sales for Automobile & Vehicles in eight months with a rise of 0.4 per cent. Comparatively, Automobile/Vehicle Rentals was among the worst-performing sectors, with a drop of 0.1 per cent. Utilities didn't hold its weight in September, dropping 0.4 per cent, while Clothing Stores and Mail Order/Telephone Order Providers each fell by 0.2 per cent.