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1.Market Observations, 2.Economic forecasts, 8.Was Sticky

3 Sept 2019 (TheAge) – Shock drop in stockpiles may have sent economy backwards

(3 September 2019, The Age, p8, By David Scutt)

‘Australian businesses sharply ran down their stockpiles in the June quarter producing a shock drop in inventories that may have sent the economy backwards. According to data released by the Australian Bureau of Statistics (ABS) on Monday, non-farm inventories fell by 0.9 per cent in the three months to the end June after seasonal adjustments. The result was in stark contrast to economists’ forecasts that predicted an increase of 0.3 per cent. According to the ABS, retail sales volumes grew by 0.2 per cent in the year to June, the weakest result since Australia was last in recession in the early 1990s.’

Read more at TheAge.com.au

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