Economy still stuck in the slow lane growing at 1.7pc as consumers hold back

The much anticipated turning point in Australia's economic fortunes still seems someway down the road, with GDP growing at a well below average annual pace of 1.7 per cent. 

The economy grew 0.4 per cent over the September quarter, below expectations and slower than the previous two quarters. 

ABS chief economist Bruce Hockman says the recent tax cuts failed to stimulate household spending.

Here's my report from The World Today