Australia’s economic growth slows by less than expected, but risks are building

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SYDNEY — Growth for Australia’s commodity-rich economy slowed by less than expected in the second quarter but economists are continuing to warn that a scarring recession remains possible if consumer spending crumbles and a full-blown economic crisis emerges in China over coming months.

Gross domestic product grew 0.4% in the second quarter from the first quarter, and by 2.1% from the year-earlier period, the Australian Bureau of Statistics said Wednesday.

Economists…

Source
Las Vegas News Magazine

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