Fed: Business indicators remain positive: ABS
An official survey has found the state of Australian business remains healthy withcompany profits and sales rising in the third quarter of the year.
The Australian Bureau of Statistics says allowing for seasonal factors, gross companyprofits climbed 4.7 per cent in the three months to September and were 17.8 per cent higherthan they were a year earlier.
The ABS says wholesale trade is the biggest contributor to gross profits.
Sales by wholesalers climbed 2.5 per cent to $64.85 billion, up 9.6 per cent on the year before.
Manufacturers' sales rose 0.6 per cent to $66.57 billion, 4.1 per cent higher thanthey were 12 months earlier.
The ABS says the estimate of stocks at the end of the September quarter edged up 0.3per cent from the June quarter to $93.06 billion.
Wages and salaries paid to workers rose 1.5 per cent for the quarter and were 5.5 percent higher for the year.
AAP RTV jph/sw/rp
KEYWORD: BUSINESS (CANBERRA)
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