Australia's economic growth eased in the first quarter as rising interest rates curbed consumer spending, while cyclones disrupted mining operations and exports, the Australian Bureau of Statistics said Wednesday.
Gross domestic product grew 0.3 percent on a quarterly basis, much weaker than the 0.9 percent expansion seen in the fourth quarter and economists' forecast of 0.5 percent.
A similar slower growth was last seen in the first quarter of 2025.
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