With the release of the latest gross operating company profit data from the ABS, it was revealed that they were flat in nominal terms for the quarter, despite analysts expecting a 1.5% quarter-over-quarter rise.
This result leaves the nation’s gross operating company profits in an undesirable position when it comes to contributing to GDP, up by just 1.1% in nominal terms, while headline inflation is running at 3.8%.
Despite the relatively commonly held narrative that “Big Australia” is good for the nation’s corporations, the strategy does not appear to be performing very well.
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