Australia Economic Growth Misses Forecasts, RBA Bets Whipsaw
Australia’s economy grew at a surprisingly softer pace last quarter even as the details showed domestic demand held up and labor costs stayed elevated, a result that whipsawed markets.
Gross domestic product advanced 0.4% in the three months through September, slower than the predicted 0.7%, government data showed Wednesday. On an annual basis, the economy expanded 2.1%, the fastest pace since the third quarter of 2022.