Economy sees weakest 4th quarter in over two years

The economy posted its weakest quarterly growth in more than two-years in the fourth quarter of 2018.

The reading of 0.4 per cent was substantially lower than the two per cent growth recorded in the third quarter and the 1.2 per cent figure economists had predicted.

The slowdown was mostly due to a 2.7 per cent contraction in investment spending.

For all of last year the economy grew by 1.8 per cent, which was slower than the three per cent expansion recorded in 2017.