Australia's economy in the third quarter grew at the slowest annual pace since the pandemic, disappointing hopes for a rebound as government spending did all of the heavy lifting and consumers remained cautious.

Australia’s economic growth remained sluggish in the three months through September with gross domestic product increasing only 0.3% from the prior quarter, below analyst expectation of a 0.5% growth.

Australia’s economic growth remained sluggish in the three months through September as a surge in government spending helped overcome weak exports and restrained consumer demand.