Australia Company Operating Profits Sink 3.5% In Q4

Company operating profits in Australia were down a seasonally adjusted 3.5 percent on quarter in the fourth quarter of 2019, the Australian Bureau of Statistics said on Monday.

That missed expectations for a decline of 1.3 percent following the 0.8 percent decline in the three months prior.

On a yearly basis, profits gained 2.3 percent.

Manufacturing sales were up 1.0 on quarter and down 1.0 percent on year, while wholesale sales fell 0.4 percent on quarter and 0.9 percent on year.

Wages and salaries climbed 1.0 percent on quarter and 5.0 percent on year.

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