According to the latest figures released, the Australian Gross Domestic Product has risen 0.5 per cent in the three months to September 30 compared to a growth rate of 0.6 per cent in the June quarter.

Experts say that the fall in the price is mainly due to falling commodity prices. Recent data also suggest that the measures of income largely remained flat during the quarter. Some expressed concerns that the average prices of exports had fallen during the quarter due to lower prices in the global markets and this might affect the calculation of country's GDP growth for the quarter.

The economy has grown by 3.1 per cent during the whole year till 30 September, 2012. However, there are concerns over the future of the economic growth that is dependent on factors like the developments in the mining sector and global demand for exports from the country.

Meanwhile, the Australian dollar was trading at 104.74 US cents, up from 104.38 cents on Tuesday. The currency was also trading at 86.17 Japanese yen, up from Tuesday's close of 85.71 yen, and at 79.90 euro cents, down from 79.96 euro cents.