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MNI BRIEF: Aussie GDP Misses Expectations

(MNI) Melbourne

Australian GDP rose 0.2% in Q3, down from Q2’s 0.4% and below the market’s 0.4% expectation, according to data released by the Australian Bureau of Statistics today.

“Government spending and capital investment were the main drivers of GDP growth this quarter,” said Katherine Keenan, head of national accounts. “This was the eighth straight rise in quarterly GDP, but growth has slowed over 2023.”

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Australian GDP rose 0.2% in Q3, down from Q2’s 0.4% and below the market’s 0.4% expectation, according to data released by the Australian Bureau of Statistics today.

“Government spending and capital investment were the main drivers of GDP growth this quarter,” said Katherine Keenan, head of national accounts. “This was the eighth straight rise in quarterly GDP, but growth has slowed over 2023.”

Keep reading...Show less