Corporate profits in Australia unexpectedly rose by 1.1 percent on quarter to AUD 95.03 billion in the first three months of 2020, rebounding from a 3.5 percent fall in the previous period and beating market expectations of a flat reading. It was the largest gain in corporate profits in three quarters. By industry, profits rebounded for mining (2.9% vs -7.9% in Q4 2019); financial & insurance services (48.9% vs -27.7%); and professional scientific & technical services (2.2% vs -4.6%). Also, profits grew further for manufacturing (6.1% vs 1.4%); electricity, gas, water & waste services (6.4% vs 2.8%); wholesale trade (2.3% vs 0.3%); and retail trade (3.2% vs 1.4%). In contrast, profits fell for construction (-2.7% vs 8.2%); accommodation & food services (-11.5% vs -2.3%); transport, postal & warehousing (-8.3% vs 4.1%); information media & telecommunication (-4.1% vs 2.1%); and rental, hiring and real estate services (-4.6% vs flat reading).
Corporate Profits in Australia averaged 47368.19 AUD Million from 1994 until 2020, reaching an all time high of 98494 AUD Million in the second quarter of 2019 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 July of 2020. source: Australian Bureau of Statistics
Corporate Profits in Australia is expected to be 94500.00 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 91500.00 in 12 months time. In the long-term, the Australia Corporate Profits is projected to trend around 90500.00 AUD Million in 2021, according to our econometric models.