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Australia’s economy grows 0.4% in Q4, 2.4% on-year

Sydney (AFP) – Australia’s economy expanded by 0.4 percent in the fourth-quarter despite a lift in consumer spending as net exports weighed on growth, official data showed Wednesday.

The expansion in the last three months of 2017 took the year’s rate of growth to 2.4 percent, the Australian Bureau of Statistics said.

The figures came in slightly below analysts’ expectations and the central bank’s forecasts.

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