Australia Q2 Inventories -3.4% On Quarter

By IBTimes Staff Reporter | August 30 2009 10:00 PM

RTTNews - Inventories in Australia were down a seasonally adjusted 3.4 percent in the second quarter of 2009 compared to the previous three months, the Australian Bureau of Statistics said on Monday. That was a much sharper decline that the 1.1 percent fall analysts had been expecting following the 1.2 percent decline in the first quarter.

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The seasonally adjusted estimate for manufacturing sales of goods and services fell 1.1 percent, the data showed, while the seasonally adjusted estimate for wholesale trade sales of goods and services rose 2.9 percent.

The seasonally adjusted estimate for company gross operating profits fell 7.8 percent in the June quarter - worse than the 4.5 percent fall that had been forecast after the 7.2 percent contraction in the previous three months. The seasonally adjusted estimate for wages and salaries fell 1.1 percent.

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