This has been the largest rise in salaries and wages in two years for the past quarter with an optimistic outlook to consumer expenditure yet the decline in inventories has influenced the general economic growth. The gross profit of companies has dropped by 4.5 percent within the months of April to June after a growth of 6 percent in the beginning when profits soared to historic levels from Australian Bureau of Statistics on Monday. Mining has been affected by the decline of greater than 15 percent at pre-tax level. On the other hand, salaries and wages climbed to 1.2 percent or A$1.6 billion in the second quarter implying that employees also benefit from businesses. The Gross Domestic Product scheduled on Wednesday was predicted to imply advancement of 0.8 percent worth A$1.7 trillion in the Australian economy as it recovered from a slow rise of 0.3 percent for the period of January to March. Overall, the yearly growth is noted to be subdued with 1.9 percent. The growth rate of the Reserve Bank of Australia for 3 percent in the succeeding years with the low mining ventures that has been dwindling down for a protracted period while costly prices of commodities traded internationally affect the economy. The RBA will have its policy meeting for September on Tuesday which is presumed to maintain the current borrowing rates at 1.5 percent since August in the previous year.
TAUTAN CEPAT
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