Corporate profits in Australia rose by 3.2% on quarter in the three months to September 2020, easing from an upwardly revised 15.8 percent gain in August and below consensus of a 4.5% increase. This was the third straight quarter of growth in corporate profits, reflecting the impact of the COVID-19 pandemic employment subsidies implemented by the government. By industry, profits rose less for manufacturing (11.4% vs 11.6% in Q2); construction (1.7% vs 52.7%); wholesale trade (13.3% vs 8.9%); retail trade (16.4% vs 38.2%); professional scientific & technical services (11.3% vs 63%); accommodation & food services (35.1% vs 100%), transport & warehousing (7.3% vs 13.3%); and rental, hiring & real estate services (7.2% vs 16.7%). Also, profits fell further for both mining (-9.4% vs -3.9%); and financial & insurance services (-65.2% vs -38.3%). source: Australian Bureau of Statistics
Corporate Profits in Australia averaged 48769.75 AUD Million from 1994 until 2020, reaching an all time high of 117394 AUD Million in the third quarter of 2020 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 January of 2021.
Corporate Profits in Australia is expected to be 98700.00 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 96900.00 in 12 months time. In the long-term, the Australia Corporate Profits is projected to trend around 97500.00 AUD Million in 2021 and 95700.00 AUD Million in 2022, according to our econometric models.