As Australian companies prepare for the new financial year, business information analysts at IBISWorld reveal the industries set to soar and sink in 2013-14.
Planners have secured their spot at the top, with the Superannuation industry at number one.
IBISWorld expect an impressive 40.5% rise in revenue in 2013-14, from $230,978 million in 2012-13 to $324,582 million in 2013-14.
Analysing the latest forecasts, IBISWorld general manager (Australia) Karen Dobie said superannuation funds' revenue will be closely linked to the growth of Australian and global share markets.
“Though these markets are highly volatile, the share market drops in 2012-13 mean we're starting the new financial year from a low base – a good position from which to generate solid returns. Rising superannuation revenue will also be a result of low unemployment and the 0.25% increase in compulsory contributions this financial year,” said Dobie.
Superannuation was followed by iron ore mining, wind and other electricity generation, online shopping and internet publishing and broadcasting.
The industries that might prefer the new financial year not to start at all include video and DVD hire outlets, automotive electrical component manufacturing, heavy industry and other non-building construction, book publishing and mineral exploration, as these industries are forecast to decline.
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