Daily Commentary BY THE CURVE TEAM –

Daily Insights – Q2 Business Data

31st of August, 2021

Q2 Business Data

  • Inventories rose 0.2%. Lower than the expected 1% rise.
  • Sales were up 1.1%, which was much lower than the 2.5% of last quarter and much lower than the covid recovery.
  • Wage incomes were up 2%, following a 2.1% rise in Q1. This is wages multiplied by employment, so the 1% pick up in employment is the main driver.
  • Profits were up 7.1%, with only 2.5% expected.
  • Mining was the key, up 18.4%. This was off the back of roaring commodity prices, which have since succumbed to gravity. Without mining profits were down 1.1%.

Josh Stewart

Associate - Money Markets