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Australia’s Economic Growth Passes Trough as Households Revive
Australia’s economy picked up the pace in the final three months of the year, boosted by a revival in household spending, though the outlook remains clouded by persistent inflation at home and mounting trade tensions abroad. Government data released Wednesday showed g ross domestic product advanced 0.6%, double the pace recorded in the third quarter, while the 1.3% annual expansion exceeded the Reserve Bank’s 1.1% forecast. On a per person basis, GDP eked out a 0.1% rise following seven consecutive quarters of declines. The increase was driven by weaker population growth, economists said. “The low point of ... (full story)
