FX.co ★ Australia Company Gross Operating Profits Sink 1.3% In Q3

Company gross operating profits were down a seasonally adjusted 1.3 percent on quarter in the third quarter of 2023, the Australian Bureau of Statistics said on Monday.

That was shy of forecasts for a decline of 0.5 percent following the 13.1 percent slump in the three months prior.

Business inventories were up 1.2 percent on quarter, exceeding expectations for a fall of 0.6 percent following the 1.9 percent drop in Q2.

Wages and salaries rose 2.7 percent on quarter and 9.7 percent on year.