Australia's Q3 GDP growth disappoints, markets now see April start to rate cuts

Quick Summary:

Real GDP rose 0.3 per cent in the September quarter, missing market forecasts of 0.4 per cent.

The central bank has kept interest rates steady at a 12-year high of 4.35 per cent for the past year and signalled little inclination to ease anytime soon.

Retail sales rose for a third straight month in October as consumer sentiment jumped, and anecdotes from the Black Friday sales event suggest the momentum likely carried through November.“We expect GDP growth will slowly pick up in the coming quarters...

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Article Details

Category: EconomyBusiness

Markets: SingaporeAustralia

Topics: Cent Economy Spending Annual Rate Growth Quarter Consumers Third Pick Weak

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-04 @ 12:05:00 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 770 words

Reading Time: 5 minutes read

Sentences: 31 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 24112041

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Main Topics: EconomyBusiness

Official Website: straitstimes.com

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