Australian Q1 data: Business Inventories +1.2% q/q (expected +0.5% q/q, prior -0.2%)Business Inventories +1.2% q/q
- expected +0.5% q/q, prior -0.2%
- inventories will be a 'partial' input into the Q1 GDP data, this +1.2% will be a boost to the result
Corporate profits +0.5% q/q
- expected +2%, prior +10.6% q/q
Other data out were the ANZ-Indeed Australian Job Ads, which bounced back from its recent downward trend
- + 0.1% m/m in May (prior -0.3%)
- -6.1% y/y
- and +51.9% higher than pre-pandemic levels (February 2020)
This article was written by Eamonn Sheridan at www.forexlive.com.
Source: Australian Q1 data: Business Inventories +1.2% q/q (expected +0.5% q/q, prior -0.2%) (https://www.forexlive.com/news/australian-q1-data-20230605/)
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