April 13, 2024

Australian Economy Slows With High Interest Rates, Cost of Living

Australia’s economy slowed in the final three months of last year as elevated interest rates and rising living costs dragged on household spending.

Gross domestic product advanced 0.2%, easing from an upwardly revised 0.3% in the prior quarter, Australian Bureau of Statistics data showed Wednesday. From a year earlier, the economy grew 1.5%, matching estimates, as did the quarterly change.

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