Jitters as Australian economy grows by just 0.2% in June quarter
by Australian Associated Press from on (#K8J4)
Quarterly growth figure is half the expected rate, dragged down by reduced mining and construction activity and export woes
The economy stuttered during the three months to the end of June, undermined by reduced mining and construction activity coupled with a decline in exports.
Wednesday's national accounts showed the economy grew at a feeble 0.2% in the June quarter, half the rate expected by economists. It compares with 0.9% growth in the previous three months - one of the fastest quarterly expansions in the world during that period.
Related: Reserve Bank keeps cash rate on hold as sluggish growth forecast
Related: The economy's not shrinking, so why does it feel like we're in a recession? | Greg Jericho
Continue reading...