Shift uses transaction data from a representative sample of business in Australia to gain insights into their financial and operational performance.
The Liquidity Index is calculated by measuring changes in business liquidity to garner insights into the overall level of business health. The Business Liquidity Index remained flat at 65 over May (0 MoM, -23.5% YoY).
The Sales Index tracks changes in sales to measure business performance. Over May, Sales grew by 11 points (+11.6% MoM, 4.94% YoY).
Supplier spend tracks business costs and expenditures on goods and services, material and equipment, utilities, fuel and insurance.
Supplier spend increased by 17 points over May (+17.3% MoM, +2.7% YoY). In the Hospitality industry, supplier spend advanced 17 points, to a 5.6% YoY increase. YoY growth in the Retail Trade sector was also significant, up 7.8% since May 2022.
Wage spend tracks business spend on wages and salary payments. The Wage spend index grew by 4 points in May (+3.4% MoM, 11.1% 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).