Corporate profits in Australia unexpectedly declined by 0.3 percent on quarter in the three months to March 2021, missing market expectations of a 3 percent rise and after a downwardly revised 4.8 percent fall in the prior period. This was the second straight quarter of drop in business profits, amid a resurgence of COVID-19 cases in some states. Profits dropped in construction (-3.1% vs -11.7% in Q4), retail trade (-22.9% vs -11.4%), accommodation & food services (-36.9% vs -33.7%), transport, postal & warehousing (-6.1% vs -25.5%), information & communication (-20.3% vs 13.3%), professional scientific & technical services (-9.8% vs -27.6%), and other services (-52.6% vs -31.5%). On the flip side, corporate profits rose in mining (14.7% vs 14.6%), manufacturing (6.8% vs -10.4%), utilities (3.4% vs -4.4%), wholesale trade (2.2% vs 2%), and financial and insurance (36.7% vs 188%). source: Australian Bureau of Statistics
Corporate Profits in Australia averaged 49914.71 AUD Million from 1994 until 2021, reaching an all time high of 116663 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 June of 2021.
Corporate Profits in Australia is expected to be 97300.00 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 97500.00 in 12 months time. In the long-term, the Australia Corporate Profits is projected to trend around 95700.00 AUD Million in 2022, according to our econometric models.