• Inventories +0.4% q/q (expected flat, prior was -0.4%)
  • Company Profits -4.7% q/q (expected +0.4%, prior -2.8%)
  • Wages +0.6% q/q
  • Wholesale trade sales +3.2%

Mining profits down to levels they were at in late 2009. Mining makes up around 25% of this survey, a big contributor so falls in profit in that sector weighing on the results. Raise your hand if this is a surprise to toy, and then go an sit in the naughty corner. Not news.

These numbers indicate a lower reading for the GDP later this week is likely.

more to come


AUD lower - the USD is stronger pretty much across the board, but data like this isn't helping the AUD much either