From ABS Business Indicators:
SEPTEMBER KEY FIGURES
Jun Qtr 16 to Sep Qtr 16 |
Sep Qtr 15 to Sep Qtr 16 | |||
% |
% | |||
| ||||
Sales of goods and services (Chain volume measures) | ||||
Manufacturing | ||||
Trend |
-0.7 |
-3.5 | ||
Seasonally Adjusted |
-1.9 |
-4.9 | ||
Wholesale trade | ||||
Trend |
1.5 |
4.7 | ||
Seasonally Adjusted |
0.4 |
4.4 | ||
Inventories (Chain volume measures) | ||||
Trend |
0.4 |
0.4 | ||
Seasonally Adjusted |
0.8 |
0.7 | ||
Company gross operating profits | ||||
Trend |
2.3 |
0.8 | ||
Seasonally Adjusted |
1.0 |
-0.3 | ||
Wages and salaries | ||||
Seasonally Adjusted |
1.2 |
2.9 | ||
|
Big inventories number at 0.8% that will save GDP. Wages and profits a bit firmer too.
This is why we don’t bother with forecasts. It’s a craps shoot!