Business Indicators have delivered another GDP nasty in inventories:
SEPTEMBER KEY FIGURES
Jun Qtr 18 to Sep Qtr 18 |
Sep Qtr 17 to Sep Qtr 18 | |||
% |
% | |||
| ||||
Sales of goods and services (Chain volume measures) | ||||
Manufacturing | ||||
Trend |
-0.5 |
0.4 | ||
Seasonally Adjusted |
-0.9 |
-0.9 | ||
Wholesale trade | ||||
Trend |
0.0 |
-0.4 | ||
Seasonally Adjusted |
0.9 |
-0.3 | ||
Inventories (Chain volume measures) | ||||
Trend |
0.5 |
1.7 | ||
Seasonally Adjusted |
0.0 |
1.6 | ||
Company gross operating profits | ||||
Trend |
2.6 |
13.2 | ||
Seasonally Adjusted |
1.9 |
13.5 | ||
Wages and salaries | ||||
Seasonally Adjusted |
0.9 |
4.3 | ||
|
That’s going to take roughly 0.3 away from Sep QTR GDP which is already struggling.