Company gross operating profits dipped a seasonally adjusted 0.2 percent on quarter in the third quarter of 2017, the Australian Bureau of Statistics said on Monday.
That missed forecasts for an increase of 0.1 percent following the 3.3 percent decline in the three months prior.
Inventories were up 0.2 percent on quarter, beating forecasts for a flat reading after sinking 0.5 percent in Q2.
On a yearly basis, company profits jumped 20.0 percent, while inventories added 1.1 percent.
Wages and salaries were up 1.1 percent on quarter and 2.5 percent on year.
Sales of manufacturing goods and services were up 2.0 percent on quarter and 1.5 percent on year, while wholesale trade added 0.7 percent on quarter and 2.3 percent on year.
Also on Monday, the latest forecast from TD Securities and the Melbourne Institute showed that consumer prices in Australia are predicted to rise 0.2 percent on month in November. That follows the 0.3 percent increase predicted for October.
On a yearly basis, consumer prices are called higher by 2.7 percent in November – up slightly from 2.6 percent in October.
Also, ANZ Bank noted that job ads were up 1.5 percent on month in November, unchanged from the October reading.
by RTT Staff Writer
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