GDP grew just 0.5% in September quarter

GROWTH in Australia's economy has slowed, with the nation's gross domestic product growing just 0.5% in the September quarter.

The Australian Bureau of Statistics figure does show continued growth, however small in recent months, with growth in GDP up 3.1% for the year.

But Australia's terms of trade continues to fall, down 4% in the September quater, to be 13.7% lower for the year to date.

New business investment grew 5.6% in the quarter, to 12.3% up on last year, while households kept saving, with the savings to income ratio at 10.6%.