Australian GDP: economy shrinks by 0.5% in September quarter

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New figures show GDP receded in the third quarter raising prospect of recession and also likely to put pressure on federal government revenue

Australia’s economy slipped backwards in the September quarter, by a greater than expected 0.5%.

It is the first time in five years the economy has recorded three months of negative growth.

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view The Guardian: Economics
#australian economy
#reserve bank of australia