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Australia's economy seems to be slowing down and the housing market is to blame
Australia’s economy grew at an annual pace of more than 4% in the first half of the year, but now things look to be turning for the worse. Most states and territories are now growing below average levels with economic activity continuing to decelerate. The housing market is to blame. That’s the unsettling news to come from ANZ Bank’s latest Stateometer for the September quarter, casting renewed doubt over the ability for the economy to grow at over 3% in the next couple of years as the Reserve Bank of Australia (RBA) is currently forecasting. “Momentum slowed further in the September quarter across most of ... (full story)