Corporate profits in Australia unexpectedly fell by 0.8 percent quarter-on-quarter to AUD 97.46 billion in the third quarter 2019, after an upwardly revised 4.8 percent gain in the previous period and missing market expectations of a 2 percent increase. By industry, profits dropped for mining (-2.1% vs 10.5% in Q2); rental, hiring & real estate (-11.2% vs 6.5%) and arts & recreation (-16.6% vs 8.7%). Additionally, profits went down further for transport, postal, warehousing (-6.6% vs -2.4%); financial & insurance services (-28% vs -6.1%) and other services (-4.4% vs -0.8%). Also, profits rose less for wholesale trade (1.1% vs 3.3%); retail trade (1.6% vs 3.8%); administrative & support services (2% vs 2.5%) and professional, scientific & technical services (7.2% vs 10.9%). In contrasts, profits rebounded in accommodation & food (2.2% vs -7.2%); utilities (2% vs -11%); manufacturing (1.1% vs -2.3%) and information media & telecommunications (9.6% vs -2.9%). Corporate Profits in Australia averaged 46433.79 AUD Million from 1994 until 2019, reaching an all time high of 98235 AUD Million in the second quarter of 2019 and a record low of 12032 AUD Million in the first quarter of 1995. source: Australian Bureau of Statistics
Corporate Profits in Australia is expected to be 93000.00 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 94000.00 in 12 months time. In the long-term, the Australia Corporate Profits is projected to trend around 90500.00 AUD Million in 2020, according to our econometric models.