GDP Growth for June at 0.2

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    GDP Growth slumped to just 0.2% for the June Quarter; the slowest rate of growth since 2011 and the GFC.

    "... Along with the first quarter GDP in 2013, it was the weakest growth since early 2011, which was affected by the severe floods in Queensland, and the equal second weakest since the Global Financial Crisis-affected contraction in December 2008.
    In nominal terms — with the effects of inflation excluded — GDP growth was 1.8 per cent, the weakest figure since 1962. ..."
    http://www.abc.net.au/news/2015-09-...-us-cents-on-back-of-weak-gdp-figures/6743298

    "... However, Capital Economics' senior economist for Asia Daniel Martin said the chances of a recession were now  "looking larger than at any time in the last 24 years".
    He said the second-quarter data could force the Reserve Bank of Australia to cut the cash rate for the third time this year, from an already-low 2 per cent.
    "The upshot is that GDP growth now looks on track to come in roughly in line with our below-consensus forecast of 2 per cent this year," Mr Martin said. ..."



    http://www.theage.com.au/business/t...owest-rate-in-four-years-20150901-gjd3gi.html
 
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