FX.co ★ Australia Business Inventories Rebound in Q1

Australia’s business inventories grew by 0.5% quarter-on-quarter in Q1 2026, breaking a pattern of two consecutive declines of 0.1% in Q4 and 0.8% in Q3. This shift signaled a modest rebound in overall stock levels and a gradual restocking after a weak finish to 2025. Sector-wise, the increase was led by mining (up 5.8% vs 0.0% in Q4) and electricity, gas, water and waste services (up 6.1% vs 4.5%). Wholesale trade also returned to growth (1.0% vs -0.1%), while accommodation and food services moved back into expansion (4.3% vs -2.6%). In contrast, inventories continued to decline in manufacturing (-1.3% vs -0.1%) and retail trade (-1.7% vs -0.5%). On a yearly basis, business inventories were down 0.3%.