Recommend
Print

Cash flow

Commonwealth Bank BSI Rose 0.2% In December, 4 Out Of 20 Sectors Contracted: Cashflow

Business Sales Indicator rose 0.2% in December amid spending recovery

By Michelle Hammond
Friday, 20 January 2012

The Commonwealth Bank Business Sales Indicator rose by 0.2% in December, following similar gains in November and October, with just four out of 20 sectors contracting during the month.

 

The BSI, which is compiled monthly, is obtained by tracking the value of credit and debit card transactions processed through CBA merchant facilities throughout Australia.

 

The December result follows a 0.3% rise in November and a 0.2% rise in October, indicating the recovery in economy-wide spending is ongoing.

 

“Sales have now expanded for five consecutive months – the best run of gains since late 2009,” the report said.

 

At a sectoral level, just four out of 20 sectors contracted in trend terms in December, while all eight states recorded higher sales in trend terms during the month.

 

Mail order/telephone order providers recorded the strongest gain (up 3.3%), followed by clothing stores (up 1.7%) amusement and entertainment (up 1.3%) and retail stores (also up 1.3%).

 

“The weakest sector in December was miscellaneous stores (down 2.8%) followed by hotels and motels (down 0.9%), business services (down 0.3%) and utilities (down 0.1%),” the report said.

 

“Spending by business services has softened over the past three months.”

 

“Personal service providers, and professional services and membership organisations, have also recorded improved spending over the past five months.”

 

In annual terms, six sectors contracted in December, following a similar result in November. Not surprisingly, the weakest sector was retail stores, down 9.3% on a year earlier.

 

This was followed by miscellaneous stores (down 8.2%), automobiles and vehicles (down 2.6%) and hotels and motels (down 2%).

 

At the other end of the scale, spending was strongest at mail order/telephone order providers, up 19.4%, followed by amusement and entertainment (up 18.3%) and clothing stores (up 10.8%).

 

With regard to the states, the ACT recorded the strongest result, up 0.7%, followed by the Northern Territory and WA (both up 0.6%), Tasmania, Victoria, South Australia and NSW.

 

“The trend BSI for [the] Northern Territory has now risen for 10 straight months [while] Queensland and South Australia have recorded stronger trend spending growth for six straight months,” the report said.

 

“In annual terms, strongest growth was in the Northern Territory (up 3.7%), followed by the ACT (up 3.5%) and Western Australia (up 2.5%).”

Did you like this article? 

Sign up to the StartupSmart Newsletter to receive a daily news wrap-up straight to your inbox AND a free eBook!

Invalid Input

Comments (0)

Subscribe to this comment's feed

Write comment

smaller | bigger

busy
Invalid Input
 

Follow us

StartupSmart on Twitter StartupSmart on Facebook StartupSmart on LinkedIn StartupSmart on Google+

Subscribe to StartupSmart RSS feeds

Events


  • 2012 Young Entrepreneurs Mentoring Program
    This mentoring program is ONLY for entrepreneurs aged between 18 and 35 years with a passion and ambition for entrepreneurship who have been working in their...

  • Title: The Growing Role of I.T. in Health
    How is I.T. changing the way our hospitals are managed and how a $15 million fund is encouraging technology innovation for the health sector. Two...

  • Facebook Masterclass Sydney
    Are you ready to become a Facebook master?   And can you afford not to know how to avoid having Facebook permanently delete your page? Facebook Timeline is ...

  • Facebook masterclass Brisbane
    Are you ready to become a Facebook master?   And can you afford not to know how to avoid having Facebook permanently delete your page? Facebook Timeline is ...

  • Angel Dinner Call for Video Submissions
    If you're an entrepreneur in the high-tech space and your business is looking for funding, you might be interested in pitching at this event, held at Table...

Sponsored Links

Our Partners

 

Private Media Publications

Crikey

loading...

Crikey Blogs

loading...

Smart Company

loading...

Property Observer

loading...

Leading Company

loading...