Just in from the ABS:
Company profits beat expectations, whereas wages & salaries also rose. Inventories also rose a little, whereas sales of goods and services fell.
I doubt there’s much here to ‘move the needle’ on Wednesday’s GDP figures for Q4.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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