Australia's business inventories rose by 0.7 percent quarter-on-quarter in the three months to March 2019, after an upwardly revised flat reading in the previous period. The latest reading compares with market estimates of no growth. Stocks increased in mining (2.3 percent vs -2.2 percent in Q4); manufacturing (1.4 percent vs -0.4 percent); and retailing (1.9 percent vs 0.7 percent). Meanwhile, inventories fell at electricity, gas, water & waste services providers (-11.5 percent vs 0.6 percent); accommodation and food services providers (-3.2 percent vs 9.3 percent), and wholesale traders (-0.6 percent vs 0.1 percent). Through the year to the first quarter, business inventories rose by 1.4 percent. Business Inventories in Australia averaged 0.53 percent from 1985 until 2018, 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.
Business Inventories in Australia is expected to be 0.60 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 0.40 percent in 2020, according to our econometric models.