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 as a surge in government spending helped overcome weak exports and restrained consumer demand.

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.