Corporate profits in Australia rose 1.9 percent on quarter to AUD 90.22 billion in the September quarter of 2018, slowing from an upwardly revised 2.4 percent advance in the previous period and missing market expectations of 2.8 percent. By industry, profit growth slowed sharply for both mining (3.4% vs 5.2% in Q2) and financial insurance services (1.3% vs 12.1%), while a slump in profits was recorded for: manufacturing (-5.1% vs 1.7%); wholesale trade (-1.1% vs 3.1%); retail trade (-2% vs 2.4%); transport, warehousing (-2.7% vs 3.9%); professional, scientific & technical services (-1% vs -3.8%); and other services (-8% vs 19.7%). In contrast, profits rose faster for rental & real estate (3.1% vs 2.3%) and administrative & support services (4.7% vs 4.3%); and rebounded for electricity, gas & utilities (7% vs -2.7%); construction (9.7% vs -2.8%); accommodation & food services (13.4% vs -3.8%); arts & recreation services (9.6% vs -0.6%); and information media & telecom (3% vs -6.7%). Corporate Profits in Australia averaged 44444.63 AUD Million from 1994 until 2018, reaching an all time high of 90221 AUD Million in the third 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 68900.00 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 88482.89 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.