Australia's economy expands 0.4% in the fourth-quarter
Australia's economy has expanded by less than expected in the fourth quarter of 2011, as business spending dropped, sending the dollar to a six-week low.
Gross domestic product rose by 0.4% in the three months to the end of December compared with the previous three months, said the Bureau of Statistics.
Analysts were expecting growth of 0.8%.
However, growth is expected to pick up due to high levels of resource investment.
Duncan Kennedy reports from Sydney.
07 Mar 2012
- From the section Business