Australian economy nearly stalls in Q4, local dollar skids

  • Economy
  • Wednesday, 6 Mar 2019

SYDNEY: Australia’s economy slowed sharply in the second half of last year as consumers shut their wallets and housing construction pulled back, data showed on Wednesday, sending the local currency to a two-month trough.

The gross domestic product (GDP) figures showed the economy expanded 0.2 percent in the fourth quarter, slower than the 0.3 percent increase economists had forecast in a Reuters poll.
Third-quarter growth was unrevised at 0.3 percent.