Australia (GDP partials data) Q4 inventories -0.2% q/q (expected 0.3%)

October to December 2018 quarter data

Inventories -0.2% q/q for a miss … will subtract from Q4 GDP

• expected 0.3%, prior 0.0%

Company operating profits 0.8% q/q … also a miss

• expected 3.0%, prior 1.9%

Data so far today:

Australia - ANZ job ads for February: -0.7% m/m (prior -1.8%)

• not a plus …

Australia monthly inflation indicator, headline 0.1% m/m (prior -0.1%) and 1.7% y/y (1.5%) ... 'Trimmed mean' (a core inflation measure): - 0.0% m/m (prior -0.1%) - 1.6% y/y (prior 1.4%)

• The RBA target band for inflation is 2 - 3% y/y, still below

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for background to this:

• Australia data today a 'partial' for Q4 GDP