Australian CGOP -2.8% vs. -1.8% forecast

Category: Economic Indicators

Gross operating profits of Australian companies fell more-than-expected in the last quarter, official data showed on Monday.In a report, Australian Bureau of Statistics said that Australian CGOP fell to a seasonally adjusted -2.8%, from 1.4% in the preceding quarter whose figure was revised up from 1.3%.Analysts had expected Australian CGOP to fall to -1.8% in the last quarter