Shame, but it’s pretty unlikely we’ll see a recession now. Business Indicators came in strong:
DECEMBER KEY FIGURES
Sep Qtr 16 to Dec Qtr 16 |
Dec Qtr 15 to Dec Qtr 16 | |||
% |
% | |||
| ||||
Sales of goods and services (Chain volume measures) | ||||
Manufacturing | ||||
Trend |
-0.7 |
-3.2 | ||
Seasonally Adjusted |
0.1 |
-2.4 | ||
Wholesale trade | ||||
Trend |
2.1 |
7.9 | ||
Seasonally Adjusted |
3.1 |
9.0 | ||
Inventories (Chain volume measures) | ||||
Trend |
0.7 |
1.8 | ||
Seasonally Adjusted |
0.3 |
1.6 | ||
Company gross operating profits | ||||
Trend |
9.3 |
20.0 | ||
Seasonally Adjusted |
20.1 |
26.2 | ||
Wages and salaries | ||||
Seasonally Adjusted |
-0.5 |
1.0 |
Profits to add, wages to subtract but the big one is inventories which withdraw 0.2%. It probably needed to draw down further to deliver a recession.
Bummer, it might have triggered some much needed soul searching and genuine reform.
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