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Economy Slumping: Rate Cut Needed ?

The Australian economy is in danger of slowing to the point where it drops into what’s called a growth recession, where a weak and sluggish domestic economy is only supported by the still strong export sector, thanks to rising prices for exports of iron ore, coking and thermal coal, oil and gas.

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Diary

US June quarter GDP and July employment will be released in the week ahead and both are likely to tell different stories about where the American economy is right now.

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