Australia’s economy is on the rise, but it came in lower than the market was anticipating.
Fresh figures released by the Australian Bureau of Statistics show gross domestic product rose 0.4 per cent over the September quarter.
The yearly growth rate now comes in at 2.1 per cent.
This followed a yearly growth rate of 0.6 per cent in the June quarter.
GDP per capita was flat for the quarter as economic growth was in line with population growth but remained 0.4 per cent higher than a year ago.
This was above the Reserve Bank of Australia’s estimates of 2.0 per cent, but below the growth rate expectations of the market which was around 2.2 per cent.
More to come
