Australian growth rate is likely to slow

The pace of Australian growth is expected to decline in Q3 as compared to Q2. Analysts claimed the decrease was caused by a drop in public sector spending, inventories and net exports; however, investments in business and consumption are projected to remain strong. The expected growth rate is 0.8% on a quarterly basis while on a yearly basis the economic performance of the country is likely to have grown from 1.4% in September 2010 to 1.9% in September this year.