Shift uses transaction data from a representative sample of business in Australia to gain insights into their financial and operational performance.
Following two consecutive months of decline on the Sales Index, liquidity within the Hospitality industry fell 9 points over February (-14% MoM, -33% YoY).
Across industries, Construction and Retail Trade experienced the smallest decline on the liquidity index over February. Construction was down 3 points (-4% MoM, -18% YoY), with Retail Trade down 8 points (-10% MoM, -18% YoY)
The Sales Index tracks changes in sales to measure business performance. The Sales Index was up 6 points in February, up (+7% MoM, + 2.26% YoY).
Supplier spend tracks business costs and expenditures on goods and services, material and equipment, utilities, fuel and insurance.
Supplier spend grew 3 points this month (+ 3% Mom, + 3% YoY).
Wage spend tracks business spend on wages and salary payments. Wage spend grew 8 points over February (+7% MoM, + 13% YoY).
The Business Index is baselined to February 2021, using six months of average transactions as the denominator.
The Index is calculated by taking a representative sample of businesses from around Australia varied by size, industry and location and looking at their credit transactions across all account types (e.g. transaction, savings and credit card).