2019.12.0200:00:00UTC+00Australia Company Operating Profits Fall 0.8% In Q3

Company operating profits in Australia were down a seasonally adjusted 0.8 percent on quarter in the third quarter of 2019, the Australian Bureau of Statistics said on Monday.

That missed expectations for an increase of 1.0 percent following the 4.5 percent gain in the previous three months.

Inventories fell 0.4 percent on quarter, roughly in line with expectations following the 0.9 percent drop in the three months prior.

On a yearly basis, operating profits climbed 9.4 percent and inventories were down 0.9 percent.

Wages and salaries were up 1.0 percent on quarter and 4.8 percent on year.