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Free AccessTrending Top 5
Market News Topics
March 05, 2018 00:52 GMT
MNI 5 Things:Australia Q4 Inventories Poses Dnside Risk to GDP
--Company Profits Rise More Than Expected
By Sophia Rodrigues
SYDNEY (MNI) - Following are the five key observations we made from
Business Indicators data for the fourth quarter published by the Australian
Bureau of Statistics Monday:
--Business inventories rose 0.2% q/q, less than MNI median forecast for
0.4% rise, and follows a small downward revision in Q3 inventories. As a result,
inventories could either make a small detraction or lead to flat contribution to
Q4 GDP. Overall, it poses downside risk to current MNI median forecast for Q4
GDP of +0.5% q/q and +2.5% y/y.
--Inventories in the retail sector fell 0.5% q/q and this was the third
straight quarter that saw no rise in retail inventories. The data is a
reflection of the headwinds facing the retail sector which is also seen in the
AI Group's monthly performance of services index which showed retail sub-sector
at lowest level since June 2012 in the February data.
--In trend terms, inventories was flat q/q for two straight quarters and
this is much lower than 0.8% q/q rise seen in Q4 of 2016.
--Company profits rose more than expected (+2.2% vs +1.3% MNI median
forecast) and rebounded after two quarters of decline. The rise was largely on
account of a 4.2% q/q rise in mining profits and a 9.5% q/q rise in
manufacturing profits.
--Wages and salaries rose 1.0% q/q, marking the slowest pace of growth in
three quarters. Wages in construction slowed to a 1.9% q/q in Q4 from +3.6% in
Q3.
--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com
[TOPICS: MALDS$,MMLRB$,M$A$$$,M$L$$$,MT$$$$]
To read the full story
Close
Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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