SYDNEY, March 1 (Reuters) - Australia's economy grew at the weakest pace in a year last quarter as strength in trade was offset by rising interest rates and high inflation, and all the signs are a further slowdown lies ahead.
Data from the Australian Bureau of Statistics on Wednesday showed real gross domestic product (GDP) rose 0.5% in the December quarter, down from 0.7% in the previous quarter and under forecasts of 0.8%.
Annual growth was still solid at 2.7%, while the report contained plenty of evidence of cost and price pressures that underline the case for yet further increases in interest rates in the struggle against inflation.
