Australia's economy grew slower than expected, with government spending helping, but household spending lagging.

Australia's economy grew by 0.8% over the past year, lower than the 1.1% expected, with the third quarter showing a 0.3% increase. Government spending, especially defense, bolstered growth, but household spending remained weak. The Reserve Bank of Australia is likely to keep high interest rates to manage inflation, despite the slower growth.

December 03, 2024
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