S&P GLOBAL MARKET INTELLIGENCE economist Eleanor Dennison said Australia’s economy weakened at the end of Q3, with growth momentum continuing to fade in September. The quarter remained slightly expansionary, an improvement on a weak Q2. Business sentiment stays positive but confidence in the growth outlook has weakened amid layoffs, rising cost pressures, softer demand and renewed export weakness. Services remain the main growth driver but the rebound there has softened; manufacturing is weak, w

S&P GLOBAL MARKET INTELLIGENCE economist Eleanor Dennison said Australia’s economy weakened at the end of Q3, with growth momentum continuing to fade in September. The quarter remained slightly expansionary, an improvement on a weak Q2. Business sentiment stays positive but confidence in the growth outlook has weakened amid layoffs, rising cost pressures, softer demand and renewed export weakness. Services remain the main growth driver but the rebound there has softened; manufacturing is weak, with activity and sentiment indices turning negative for the first time since March. Commodity producers report increased supply-chain pressure, though inflationary pressure has eased.