The Australian economy grew by a lower-than-expected 0.3 per cent in the September quarter as household consumption moderated against the backdrop of falling east coast property prices and resolutely sluggish wage growth.
Growth in the 12 months to September slowed to 2.8 per cent, according to data released Wednesday by the Australian Bureau of Statistics..
The growth was well below the June quarter's 0.9 per cent and fell short of market consensus forecasts, which had predicted quarterly growth of 0.6 per cent and an annual improvement of 3.3 per cent.
