World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
In the third quarter of 2024, Australia's economy grew by 0.3% compared to the previous quarter, a slight improvement from the 0.2% growth seen in the second quarter. This growth marks the twelfth quarter of economic expansion; however, it was lower than the expected 0.4% growth for this period.
Several key factors contributed to this growth:
Fixed Investment: Increased significantly, mainly driven by public investment, which rose 6.3%.
Government Spending: Stayed stable at 1.4%, helping to support the economy.
Household Spending: Did not change much, remaining flat after a decline in the second quarter. This was mostly because people cut back on spending for non-essential items.
Trade Balance: Exports went up by 0.2%, while imports dropped by 0.3%, which positively impacted GDP.
On a yearly basis, the economy grew by 0.8%, the slowest growth rate since the fourth quarter of 2020. Australia's economy is also dealing with high interest rates intended to control inflation, although inflation has recently started to show signs of easing.
