Australian Q3 GDP +3.1% Y/Y - in line - vs +3.8% in Q2. Growth +0.5% Q/Q vs +0.6%. Consumer...

|By:, SA News Editor
Australian Q3 GDP +3.1% Y/Y - in line - vs +3.8% in Q2. Growth +0.5% Q/Q vs +0.6%. Consumer demand was the weakest in 2.5 years, with spending slowing to +0.3% from +0.7%. Machinery and equipment +6.2%, mining +4.5%, government spending -0.4%. The GDP report confirms "a loss of momentum in the Australian economy," says Westpac's Bill Evans. (PR)