Company profits -0.2% for the quarter vs 0.0% estimate
The Australian third-quarter inventories increased by 0.2% versus an estimate of 0.0%
- company gross operating profits fell by -0.2% QoQ versus estimates of +0.2%
- company profits before income taxes rose by 3.8% QoQ
The inventory data feeds into the 3Q GDP data which is due to be released on Wednesday.
Estimates for GDP show:
- GDP SA QoQ for 3Q +0.7% versus +0.8% in the 2Q
- GDP YoY 3Q 3.0% versus 1.8% in the 2Q
In other news this week out of Australia, on Tuesday:
- The current account for the 3Q is expected to show a decline of-A$8.7B vs -A$9.6B
- Retail sales for October expected to rise by 0.3% versus 0.0%
- The reserve Bank of Australia is expected to keep rates unchanged at 1.5%
Later in the week,
- The trade balance for October is expected to show a surplus of A$1400M vs A$1745 last month
