Via the ABS come more poor GDP partials:
September key figures
Jun Qtr 19 to Sep Qtr 19 Sep Qtr 18 to Sep Qtr 19 % %
Sales of goods and services (Chain volume measures) Manufacturing Trend -0.5 -3.6 Seasonally Adjusted -0.3 -3.3 Wholesale trade Trend -0.5 -0.3 Seasonally Adjusted -0.5 -0.6 Inventories (Chain volume measures) Trend -0.4 -0.7 Seasonally Adjusted -0.4 -0.9 Company gross operating profits Trend 1.9 10.6 Seasonally Adjusted -0.8 9.4 Wages and salaries Seasonally Adjusted 1.0 4.8
Inventories to add roughly 0.15% after falling less than last quarter but profits weak. Roughly in line with expectations and no upside here.
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.