Mining companies reported the largest fall in business turnover among 13 selected industries in Australian Bureau of Statistics data for May.
Mining turnover fell 6 per cent in May seasonally adjusted after a 12.1 per cent drop in April as demand and prices continued to ease from record highs.
The Newcastle Herald reported in May that the Hunter's average monthly coal exports were at their lowest level in 10 years as prices for the port's main export tumbled.
ABS head of business indicators Robert Ewing said monthly turnover increased in May in 11 of the 13 industries selected by the bureau.
"Electricity, gas, water and waste services recorded the largest monthly percentage rise, increasing 12.8 per cent, after falling 7.5 per cent in April," he said.
The accommodation and food services category experienced a very small drop in turnover in May.
In year-on-year terms, 12 of the 13 selected industries recorded rises, led by construction at 17.6 per cent.
Electricity, gas, water and waste services had the smallest rise at 0.1 per cent.
The only industry to suffer a year-on-year fall in turnover was mining at minus 13.5 per cent, the largest negative year-on-year fall for the industry since August 2020 (minus 14.6 per cent).
The Newcastle coal futures price reached a record $US457.80 a tonne last year but was $US138 on Monday, though still well above the $US50 a tonne in August 2020.
The Newcastle Herald reported in January that Port Waratah Coal Services figures showed its coal exports had dropped 17 per cent from 111.3 million tonnes in 2021 to 91.9 million tonnes last year.
