Moody's Analytics stated in a report that Australia's economy is expected to grow by around 0.3% in the third quarter, better than the 0.2% growth in the second quarter. The report points out that households and businesses in the country are still being dragged down by high interest rates. Moody's indicated that although tax cuts and cost of living relief measures are providing support to households, this support is reflecting as savings in bank accounts rather than additional spending. The report also added that the pressure on businesses is increasing, especially in interest-sensitive industries such as retail, hotels, and construction. GDP data will be released on Wednesday.