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The Australian Bureau of Statistics released its company gross profits data on Monday. Company gross profits in Australia dropped seasonally adjusted 2.8% in the fourth quarter, missing expectations for a 1.8% fall, after a 1.4% increase in the third quarter. The third quarter's figure was revised up from a 1.3% gain.
Sales of goods and services in the manufacturing sector dropped seasonally adjusted 2.0% in the fourth quarter, sales of goods and services in wholesale trade climbed 1.6%.
Inventories fell seasonally adjusted 0.4% in the fourth quarter, while wages and salaries increased 0.5%.
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