Per capita GDP continued to decline for seventh consecutive quarter as population grew, ABS data shows
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Australia’s economy grew at a weaker than expected pace in the September quarter despite extra government spending. The slow pace may make early interest rates cuts more likely.
Gross domestic product (GDP) expanded 0.3% in the July-September months, the Australian Bureau of Statistics said on Wednesday. That pace compared with the 0.5% rate expected by economists and the 0.2% growth previously reported by the ABS for the June quarter.
