Australia's business inventories dropped by 1.2 percent quarter-on-quarter in the three months to March 2020, after a 0.3 percent rise in the prior period and compared with market estimates of a 0.7 percent fall. It was the largest decline in business inventories since the last quarter of 2014, amid the coronavirus pandemic. Inventories decreased at miners (-0.8 percent vs 8.7 percent in Q4 2019), accommodation and food services (-5.4 percent vs 1.6 percent) and wholesale trade (-0.6 percent vs 0.2 percent), and fell further in manufacturing (-2 percent vs -0.8 percent). In addition, inventories grew less at electricity, gas, water & waste services (1.8 percent vs 5.8 percent). Meanwhile, retail trade inventories went down at a softer pace (-1.2 percent vs -1.7 percent). Through the year to the first quarter, business inventories fell by 1.2 percent.
Business Inventories in Australia averaged 0.50 percent from 1985 until 2020, reaching an all time high of 2.80 percent in the first quarter of 1999 and a record low of -2.80 percent in the third quarter of 1986. This page provides - Australia Business Inventories- actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Business Inventories - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Australian Bureau of Statistics
Business Inventories in Australia is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Inventories in Australia to stand at 0.50 in 12 months time. In the long-term, the Australia Business Inventories is projected to trend around 0.50 percent in 2021 and 0.40 percent in 2022, according to our econometric models.