Australia’s economic growth slowed to 0.2 percent in the third quarter

KATHMANDU: Australia’s economic growth slowed to 0.2 percent in the third quarter.

Australia’s economic growth dropped to zero.2 percent in the third quarter of 2023. According to the Australian Bureau of Statistics on Wednesday, Australia’s Gross Domestic Product (GDP) increased by 0.2 percent in the third quarter.

Data showed Australia’s GDP grew by 2.1 percent in the 12 months to the end of September.

Australia’s central bank, the Reserve Bank of Australia, decided to keep the interest rate at 4.35 percent in its last meeting on Tuesday, 2023.