Australia's economy expands 0.4% in the fourth-quarter

Australia's economy has expanded by less than expected in the fourth quarter of 2011, as business spending dropped, sending the dollar to a six-week low.

Gross domestic product rose by 0.4% in the three months to the end of December compared with the previous three months, said the Bureau of Statistics.

Analysts were expecting growth of 0.8%.

However, growth is expected to pick up due to high levels of resource investment.

Duncan Kennedy reports from Sydney.