Australia's economy grew by less than expected in the third quarter as a government splurge on defence and infrastructure only barely made up for softness in consumer and business spending. Data from the Australian Bureau of Statistics on Wednesday showed real gross domestic product rose 0.

South Africa risks missing its 2024 economic growth forecast after the agricultural sector’s deepest slump in at least three decades led to an unexpected contraction in the third quarter.

Australian Industry Group CEO Innes Willox says the RBA will need to look at new GDP data and see what the “underlying strength” of Australia’s economy is.

Australia's government ramped up spending on infrastructure and defence in the third quarter, data showed on Tuesday, making a vital contribution to economic growth as consumers struggled beneath high borrowing costs.