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Australian small business productivity has risen for a second consecutive quarter, reaching its highest level since 2022, according to new data from Xero Small Business Insights.
The report found labour productivity increased by 5.3% year-on-year in the March quarter to $84.30 per hour worked, marking the second straight quarter above the long-term average.
Productivity is measured as sales generated per hour worked.
Real estate and construction led the gains, while Western Australia recorded the highest productivity levels among the states.
The findings suggest small businesses are becoming more efficient despite broader concerns about sluggish national productivity, with economists pointing to sustained momentum rather than a short-term spike.
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