Australian data for Q1 2025 from earlier:
Current Account Balance -14.7bn AUD
- expected -13.1bn, prior -12.5bn
Gross Company Profits -0.5% q/q
- expected +1.3%, prior +5.9%
Business Inventories +0.8% q/q will add to GDP growth (around +0.1 of a point)
- expected +0.1%, prior +0.1%
- +0.7% y/y
- biggest increase since Q1 2024, driven by a sharp rise in inventories for miners and electricity providers, also rebounded in manufacturing
Net Exports Contribution to GDP -0.1%
- expected 0.0%, prior +0.2%
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I was slow on this data, time taken up with some important remarks from Bank of Japan Governor Ueda torpedoing JPY lower.
