Australian inventories –1.2% QoQ

• Inventories in Australia were down seasonally adjusted 1.2% in Q1 2009 compared to Q4 2008 standing at A$119.34 billion.
• Analyst expectations had forecasted a 1.4% quarterly decline following 1.9% fall in Q4 2008.
• Inventories were down 1.1%
• manufacturing sales were down 2.8% on quarter.
• Wholesale trade unchanged.
• Companies’ profits were down –7.2% defying forecasts for a 5% fall after the 6.5% decline in the previous 3 months.

Source: RTT News