Corporate profits in Australia expanded by 7.1% qoq on in Q2 2021, easily beating market expectations of 3 percent and after a revised 0.6 percent fall in Q1. This was the first rise in business profits in three quarters and the strongest gain since Q2 2020, as the economy recovered from COVID-19 disruptions. Profits rebounded in transport, postal & warehousing (7.9% vs -6.1% in Q1), information & communication (5.5% vs -20.2%), professional scientific & technical services(0.5% vs -9.5%), and other services (29.9% vs -52.6%). Also, profits grew faster in mining (18.4% vs 14.4%). By contrast, profits dropped in manufacturing (-3.2% vs 5.3%), utilities (-1% vs 1.7%), wholesale trade (-3.2% vs 1.2%), construction (-5.5% vs -0.7%), retail trade (-5.6% vs -22.1%), and accommodation & food services (-19.8% vs -38.5%), while those in financial and insurance rose much softer (4% vs 33.4%). source: Australian Bureau of Statistics
Corporate Profits in Australia averaged 50545.41 AUD Million from 1994 until 2021, reaching an all time high of 118299 AUD Million in the second quarter of 2021 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 September of 2021.
Corporate Profits in Australia is expected to be 96900.00 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 95700.00 AUD Million in 2022, according to our econometric models.