- Mining, health and retail underpin growth
- Mining EBITDA grew $19.4 billion
- Largest EBITDA fall was $271 million in accommodation and food services
The Australian Bureau of Statistics (ABS) today released its Australian industry data.
Today’s figures showed Western Australia and the Australian Capital Territory “were the only state and territory to experience growth in all three key economic indicators,” for the 2019-20 period compared to 2018-2019.
Mining earnings also propped up the Australian across the two reference periods, 2019-20 saw health and retail also “underpin earnings”.
The six-word acronym is one of several important financial indicators, which can be roughly described as the golfing handicap equivalent of financial comparisons; levelling out the playing field to a degree.
The ABS said EBITDA for mining, healthcare, retail all grew, accommodation predictably saw losses.
The ABS adds that, Covid government support was included in EBITDA, but not from Industry Value Added (IVA).
“Construction EBITDA grew by 6.0% ($3.0b), similar to 2018-19 (7.1%, $3.3b) and IVA decreased by 1.9% (-$2.4b), a large fall compared to the 3.1% ($3.9b) growth in 2018-19.”
Australian Bureau of Statistics
Employment figures also saw fairly predictable movements, with large losses in accommodation and food services, and the arts.
While the ABS reported WA and ACT as the only state and territory to experience growth in the three key economic indicators, the eastern seaboard collectively accounted for the largest share of those three indicators.