Corporate profits in Australia unexpectedly plunged by 12.4% qoq on in Q3 of 2022, missing market expectations of a 0.3% growth, and following an upwardly revised 7.8% rise in Q2. This was the first decline in corporate profits since the fourth quarter of 2020, amid falling commodity prices. Profits fell in mining (-19.1% vs 15.4% in Q2), manufacturing (-21.3% vs 9.5%), utilities (-0.5% vs 0.2%), retail trade (-5.8% vs -6.1%), construction (-2.5% vs -5.6%), telecommunications (-8.5% vs -5.8%), financial and insurance services (-43.4% vs -42.8%), arts and recreation services (-26.9% vs 0.9%), rental hiring and real-estate services (-4.3% vs -9.1%), and other services (-17.9% vs -6.1%). Through the year to Q3, corporate profits rose by 8.5 percent, easing sharply from an upwardly revised 28.8 percent surge in Q2. source: Australian Bureau of Statistics
Corporate Profits in Australia averaged 54104.22 AUD Million from 1994 until 2022, reaching an all time high of 150876.00 AUD Million in the second quarter of 2022 and a record low of 12032.00 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 2023.
Corporate Profits in Australia is expected to be 143535.00 AUD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Corporate Profits is projected to trend around 137114.00 AUD Million in 2024 and 140268.00 AUD Million in 2025, according to our econometric models.