Shift Business Index


July 2022

Shift uses transaction data from a representative sample of business in Australia to gain insights into their financial and operational performance.

Last month: 84
Last month: 104
Last month: 113
Last month: 109
Table of Contents

  • The Shift Business Index is calculated by measuring changes in a business liquidity to garner insights into the overall level of business health.
  • The Business Index is up 1 point in July, down 7 points YoY.
  • Liquidity from businesses within the Retail Trade sector continues to fall this month, down a further 4 points on the index following its 7-point drop in June.
  • Businesses within the Hospitality sector grew their liquidity over July, rising 1 point following a month of strong sales.

Key Measures – Business Costs
(Supplier Spend)

  • Supplier spend tracks business costs and expenditures on goods and services, material and equipment, utilities, fuel and insurance.
  • Retail Trade (up 6 points) and Hospitality (up 4 points) led growth in Supplier Spend over the month of July.

Key Measures - Business Costs
(Wage Spend)

  • Wages spend tracks business spend on wage and salary payments.
  • Growth on wage spend continues to be driven by Hospitality, rising a further 3 points, now up to 15 points higher YoY.
  • Retail Trade also follows a similar trend, rising 2 points over July to a 7-point YoY increase.
  • The Fuel Spend index tracks business spend on fuel payments. The Fuel Spend Index continued to rise over July, up 1 point from June, and 18 points up YoY.
  • While spend did slow following the fuel excise cut from 30 March, business fuel spend has continued to increase over May, June and July, up 16 points overall since April.

About the data

Shift Business Index

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).