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.
4 months ago
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