AUSTRALIA
From Times Staff and Wire Reports
Corporate Profits Off for June, Up for Year: Australian corporate profits fell a seasonally adjusted 2% in the June quarter but gained 33.6% on the year, the Bureau of Statistics reported. The bureau’s trend line, which smooths out volatile factors in the data, rose for the eighth consecutive quarter, gaining 3%. Economists had predicted a gain of between 4% and 10% in June quarter corporate profits, but they were unperturbed by Friday’s results.
