Company operating profits in Australia soared 20.1 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Monday.
That easily beat forecasts for an increase of 8.0 percent following the 1.0 percent gain in the previous three months.
Profits spiked 26.2 percent on year.
Company inventories gained just 0.3 percent on quarter in Q4, shy of expectations for 0.5 percent and down from 0.8 percent in the three months prior.
Inventories were up 1.6 percent on year.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.