Forexpros – Australia’s economy grew less-than-expected in the final three months of 2011, official data showed on Wednesday.
In a report, the Australian Bureau of Statistics said that Australia’s economy expanded by a seasonally adjusted 0.4% in the fourth quarter, disappointing expectations for a 0.7% increase.
The preceding quarter’s figure was revised down to growth of 0.8% from a previously reported expansion of 1.0%.
The report showed that Australia’s economy grew at an annualized rate of 2.3% in the three months to December, after rising at an annualized rate of 2.6% in the third quarter.
Analysts had expected Australia’s economy to grow at an annualized rate of 2.4% in the fourth quarter.
Following the release of the data, the Australian dollar was fractionally higher against its U.S. counterpart, with AUD/USD easing up 0.08% to trade at 1.0561.
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