Gross domestic product (GDP) advanced 0.2 per cent from the prior quarter, slower than economists' estimate of a 0.5 per cent gain, Australian Bureau of Statistics (ABS) data showed on Dec 6.
From a year earlier, the economy grew 2.1 per cent from a downwardly revised 2 per cent.
"Government spending and capital investment were the main drivers of GDP growth this quarter," ABS head of National Accounts Katherine Keenan said in a statement.
"Household spending was flat in the September quarter." With annual growth slowing from a decade average of 2.4 per cent, the data is likely to ease concerns about demand-driven inflation pressures.
That suggests the Reserve Bank of Australia (RBA) can remain in a holding pattern for a little while in order to assess the economy.
Diese Geschichte stammt aus der December 07, 2023-Ausgabe von The Straits Times.
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