The ABS has released the March quarter Business Indicators numbers which input into GDP:
MARCH KEY FIGURES
Dec Qtr 12 to Mar Qtr 13 |
Mar Qtr 12 to Mar Qtr 13 | |||
% |
% | |||
| ||||
Sales of goods and services (Chain volume measures) | ||||
Manufacturing | ||||
Trend |
-0.3 |
-1.6 | ||
Seasonally Adjusted |
-1.2 |
-2.6 | ||
Wholesale trade | ||||
Trend |
-0.4 |
3.6 | ||
Seasonally Adjusted |
-2.5 |
2.6 | ||
Inventories (Chain volume measures) | ||||
Trend |
0.1 |
1.8 | ||
Seasonally Adjusted |
-0.6 |
0.9 | ||
Company gross operating profits | ||||
Trend |
0.4 |
-3.4 | ||
Seasonally Adjusted |
3.0 |
-0.2 | ||
Wages and salaries | ||||
Seasonally Adjusted |
0.4 |
2.9 | ||
|
Company profits are up 3 points, double consensus, no doubt on the iron ore rebound:
Advertisement
However, Inventories fell a sizeable 0.6 in the quarter which will drag down March quarter GDP: