Extreme weather events have slowed economic growth, adding to the case for another rate cut
- Written by Stella Huangfu, Associate Professor, School of Economics, University of Sydney
Australia’s economy slowed sharply in the March quarter, growing by just 0.2% as government spending slowed and extreme weather events dampened demand. That followed an increase of 0.6% in the previous quarter.
The national accounts report from the Australian Bureau of Statistics (ABS) showed annual growth steady at 1.3%, below market...
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