The Australian dollar has tumbled to almost US90c after the economy grew at a much slower pace than expected. Australia’s economy grew 0.6 per cent in the three months to September, according to Australian Bureau of Statistics figures released this week.
This was following the expectation from economists that the growth rate for Australia’s gross domestic product to be in at 0.7 per cent
Before the GDP figures were published, the Australian dollar had been buying US91.34c.
Source: Herald Sun