– 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
Curve Securities: Term Deposits | Bonds | Yield Curve Specialists