Australia: Mixed messages from Q3 Business Indicators Survey - Westpac

Sandeep Kanihama FXStreet Contributor

Andrew Hanlan, research analyst at Westpac, notes that the Australia’s Q3 Business Indicators survey for September update provided some mixed messages - which is not unusual for this survey.

Key Quotes

“Incomes were arguably robust but inventories stalled and will be a drag on growth in Q3.”

“Headline company profits increased by 1.9% in the quarter. Profits on an adjusted basis (to be more consistent with the national accounts measure) grew by 1.2% we estimate - in line with our forecast of 1.3%.”

“Over the past year, national income has been boosted by higher commodity prices - a dynamic again evident in the September quarter.”

“Employment trends were positive in the September quarter, with jobs expanding by 0.7%, including a sizeable 0.8% increase in full-time employment.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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