Australian GDP: economy shrinks by 0.5% in September quarter
by Gareth Hutchens from Economics | The Guardian on (#249ZB)
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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