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Australia's GDP weaker than expected in Q3 - MarketWatch

SYDNEY--Australia's economy grew more slowly than expected in the third quarter, amid broad weakness in construction, retail and the farm sector.

Gross domestic product expanded 0.3% in the three months through September from the prior quarter, and 2.8% from a year earlier, the Australian Bureau of Statistics said Wednesday.

Economists had expected 0.6% growth on quarter and a 3.3% on-year increase.

Government spending on infrastructure, rising gas exports, and improving business investment are helping maintain growth.

But looking into 2019, economic activity is likely to be affected by a slowdown in consumer spending and falling house prices.

Write to James Glynn at james.glynn@wsj.com

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