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Australia’s 4Q economy expands 0.4pc

Australia’s economy has expanded by less than expected in the fourth quarter of 2011, as business spending dropped, sending the dollar to a six-week low.

Gross domestic product rose by 0.4 percent in the three months to the end of December compared with the previous three months, said the Bureau of Statistics.

Analysts were expecting growth of 0.8 percent.

(Source: BBC News )