Australia’s business inventories rose 0.8% quarter-on-quarter in Q1 2025, exceeding both market expectations and the previous quarter’s 0.2% increase. This marks the strongest increase since Q1 2024, driven by a sharp rise in inventories for miners (3.5% vs 0.8% in Q4) and electricity providers (4.2% vs 2.6%). Inventories also rebounded in manufacturing (0.8% vs -0.5%), while they declined for accommodation and food services (-0.8% vs 1.1%) and retailers (-0.4% vs 0.5%). Inventory growth remained unchanged for wholesalers (0.4%). On a yearly basis, business inventories rose 0.7% compared to the same quarter last year.