Original article by Jack Quail
The Australian – Page: 4 : 3-Dec-24

Data from the Australian Bureau of Statistics shows that profits in the nation’s resources sector fell by 8.8 per cent to $47.4bn in the September quarter. The $4.6bn downturn was driven by a decline in iron ore and coal exports, which will weigh on the federal government’s revenue and the budget bottom line. The figures also show that non-mining profits fell by 1.7 per cent to $74.1bn during the quarter, and by 2.8 per cent in the year to September. Meanwhile, GDP data to be released on Wednesday is expected to show that the economy grew by 0.5 per cent in the September quarter and 1.1 per cent year-on-year.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS