Australian EconomyFeatured Article

Business indicators firm for GDP

David Llewellyn-Smith
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The ABS has released the September quarter GDP partials, business indicators, and both inventories and profits have come in well ahead of expectations, the former up 0.7 on the quarter versus 0.2 expected and the latter up 0.5% versus -1.3% expected:

SEPTEMBER KEY FIGURES

Jun Qtr 14 to Sep Qtr 14
Sep Qtr 13 to Sep Qtr 14
%
%
Sales of goods and services (Chain volume measures)
Manufacturing
Trend
-0.6
-2.0
Seasonally Adjusted
-0.5
-1.9
Wholesale trade
Trend
0.1
0.4
Seasonally Adjusted
-0.9
0.8
Inventories (Chain volume measures)
Trend
0.4
-1.0
Seasonally Adjusted
0.7
-0.8
Company gross operating profits
Trend
-2.7
-3.8
Seasonally Adjusted
0.5
-3.4
Wages and salaries
Seasonally Adjusted
0.5
2.7
Inventories (volume terms), Trend estimates
Graph: Inventories (volume terms), Trend estimates
Company gross operating profits, Trend estimates
Graph: Company gross operating profits, Trend estimates


SEPTEMBER KEY POINT

CHAIN VOLUME ESTIMATES

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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