Treasurer Scott Morrison used the opportunity to passionately call on the public to support the government's proposed income tax cuts in order to stimulate more growth in the economy.
On a quarterly basis, the economy actually slowed overall from revised growth of 0.9% in April-June.
Indeed, household consumption rose just 0.1 percent in the quarter, the smallest increase since late 2012.
"Today's print is not a good number", a JP Morgan economist, Sally Auld, said.
The growth is worse than market expectations for the economy to grow by 0.7 per cent in the quarter and 3.0 per cent over the 12 months to September 2017.
It was helped by the -0.3% figure for the September quarter 2016 falling out of the calculation (a figure affected by the drop in economic activity before the July 2016 election).
The Australian dollar slid about a quarter of a US cent as market participants essentially lowered their expectations that Australia's central bank-already in a lengthy holding pattern-will take action on interest rates anytime soon.
The household savings ratio also ticked up 0.2 per cent to 3.2 per cent, suggesting that households have been reluctant to run down savings to fund consumption.
What Are Analysts Report About Activision Blizzard, Inc. (ATVI)
Wedbush set a $63.00 price objective on Activision Blizzard and gave the stock a "buy" rating in a report on Saturday, May 6th. Activision Blizzard, Inc .'s now has a PEG ratio of 2.63 where as its P/E ratio is 40.22. (NASDAQ: ATVI ) for 6,002 shares.
United reach UEFA Champions League Last 16
Bayern and PSG had already secured qualification from Group B but met at the Allianz Arena with first place still up for grabs. CSKA had taken the lead on the stroke of half-time, a shot from the Brazilian Vitinho going in off the back of Alan Dzagoev.
FSI Group LLC Decreases Stake in JP Morgan Chase & Co (JPM)
Market worth or Market capitalization is calculated by multiplying the price of a stock by its total number of outstanding shares. It turned negative, as 48 investors sold MA shares while 480 reduced holdings. 35 funds opened positions while 128 raised stakes.