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Australian economy slows as productivity falls
Published 2 weeks, 6 days ago
Description
Australia's GDP growth has slowed to 0.3% in the March quarter, down from the December quarter, with annual growth at 2.5%. Productivity has declined while Australians work harder for less, though private sector investment, particularly in data centres, is supporting the economy. The Treasurer attributes some economic challenges to the Middle East conflict, while economists warn that recent Fair Work Commission wage increases will add to inflation and complicate the Reserve Bank's cash rate decision in a fortnight.
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