The economy hit reverse gear in the third quarter, with GDP shrinking a whopping 0.5 per cent, well beyond the gloomiest forecasts and its steepest decline since the global financial crisis of late 2008.
Annual GDP growth only 1.8pc
Public capital spending, private building investment and net exports drive fall
Real net national disposable income rises 0.8pc in quarter on higher export prices
The number of first home buyers in the australian housing market has fallen over the September quarter reducing the number of first home buyers to just over 1 out of 10