Corporate profits in Australia unexpectedly jumped by 15.1% on quarter in Q2 2020, after an upwardly revised 1.4% gain in Q1, easily beating market consensus of a 7.5% fall. This was the steepest growth in corporate profits since Q4 2016, reflecting the COVID-19 pandemic employment subsidies implemented by the government. By industry, profits rose faster for manufacturing (8.4% vs 6.2%); wholesale trade (8.2% vs 7.7%); retail trade (30.8% vs 3.3%), and professional scientific & technical services (55.1% vs 2.3%), amid a rebound in profits for construction (53.8% vs -3.8%); accommodation & food services (86.3% vs -9.8%); transport & warehousing (10.7% vs -9.0%); and rental, hiring and real estate services (11.1% vs -4.4). In contrast, profits fell for information media & telecommunication (-5.4% vs -5.8%); mining (-0.7% vs 2.8%); financial & insurance services (-35.5% vs -51.3%); and electricity, gas, water & waste services (-9.6% vs 7.6%).
Corporate Profits in Australia averaged 47368.19 AUD Million from 1994 until 2020, reaching an all time high of 98494 AUD Million in the second quarter of 2019 and a record low of 12032 AUD Million in the first quarter of 1995. This page provides the latest reported value for - Australia Corporate Profits - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia Corporate Profits - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Australian Bureau of Statistics
Corporate Profits in Australia is expected to be 94000.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Corporate Profits in Australia to stand at 91300.00 in 12 months time. In the long-term, the Australia Corporate Profits is projected to trend around 90500.00 AUD Million in 2021, according to our econometric models.