Australia’s economy eked out modest growth at the end of 2023 as consumers drew down savings to keep spending, fuelling hopes of a near-term rebound as inflation ebbs, tax cuts arrive and the Reserve Bank starts cutting interest rates.
The country’s gross domestic product in the December quarter posted a 0.2% rise compared with the previous three months, the Australian Bureau of Statistics reported on Wednesday. At an annual rate, GDP rose 1.5%.
