Australian data for Q1 2025 from earlier:

Current Account Balance -14.7bn AUD

• expected -13.1bn, prior -12.5bn

Gross Company Profits -0.5% q/q

• expected +1.3%, prior +5.9%

Business Inventories +0.8% q/q will add to GDP growth (around +0.1 of a point)

• expected +0.1%, prior +0.1%
• +0.7% y/y
• biggest increase since Q1 2024, driven by a sharp rise in inventories for miners and electricity providers, also rebounded in manufacturing

Net Exports Contribution to GDP -0.1%

• expected 0.0%, prior +0.2%

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I was slow on this data, time taken up with some important remarks from Bank of Japan Governor Ueda torpedoing JPY lower.

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