Business News

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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