Corporate profits in Australia rose 2 percent quarter-on-quarter to AUD 88.5 billion in the June quarter 2018, after an upwardly revised 6.5 percent rise in Q1 and beating expectations of 1.3 percent. Profits increased at a softer pace for: mining (4.4 percent vs 12.2 percent in Q1); transport (3 percent vs 3.3 percent); manufacturing (1.8 percent vs 4.2 percent); rental & real estate (2.7 percent vs 3.2 percent); and retail trade (1.5 percent vs 6 percent). Also, profits rebounded for both financial insurance services (13.3 percent vs -12.5 percent) and wholesale trade (2.5 percent vs -4.2 percent). By contrast, profits fell for: utilities (-3.4 percent vs 10.4 percent); construction (-5.3 percent vs 11.8 percent); information media & telecom (-6.4 percent vs 3.3 percent); professional, scientific & technical services (-2.4 percent vs 2.3 percent); and accommodation & food services (-4.6 percent, the same pace as in Q1). Corporate Profits in Australia averaged 43969.08 AUD Million from 1994 until 2018, reaching an all time high of 88467 AUD Million in the second quarter of 2018 and a record low of 12032 AUD Million in the first quarter of 1995.
Corporate Profits in Australia is expected to be 88769.21 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 87047.99 in 12 months time. In the long-term, the Australia Corporate Profits is projected to trend around 59900.00 AUD Million in 2020, according to our econometric models.
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