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Economy growing at slow pace

Economy continues to grow at slow pace
Economic growth less than expected
The economy grew by 0.2 percent in September quarter, well below the 0.4 percent growth tipped by many economists, data from the Australian Bureau of Statistics shows.
Over the year, the economy has grown by 0.5 percent – less than the 0.7 percent expected by economists.
Despite the slowdown in economic growth, Australia is still the only developed country to avoid a recession since the global financial crisis hit.
The main drivers of growth included household spending on consumer goods, spending on new homes and government spending on infrastructure.
The main drags on economic growth were a decrease in the value of exports and an increase in the amount of imports.

The economy grew by 0.2 percent in September quarter, well below the 0.4 percent growth tipped by many economists, data from the Australian Bureau of Statistics shows.

Over the year, the economy has grown by 0.5 percent – less than the 0.7 percent expected by economists.

Despite the slowdown in economic growth, Australia is still the only developed country to avoid a recession since the global financial crisis hit.

The main drivers of growth for the September quarter included household spending on consumer goods, spending on new homes and government spending on infrastructure.

The main drags on economic growth were a decrease in the value of exports and an increase in the amount of imports.

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Jessica Stanic

Jessica Stanic

Jessica has a background in both marketing and journalism and is dedicated to making the website the leading online resource for small to medium businesses with ambitions to grow.

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