Economic growth figures from the ABS today confirm Australia needed yesterday’s reduction to the cash rate.
Gross domestic product (GDP) eased to just 0.3 per cent in the June quarter, from an upwardly revised 0.7 per cent in the March quarter, the figures showed.
The expansion was less than the 0.4 per cent expected by economists and could support the case for further rate cuts this year.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Published: 3-09-08
Related Articles
Rate relief finally delivered 02-09-08
Want to see more stories from trusted news sources?
Make The Adviser a preferred news source on Google.
Click here to add The Adviser as a preferred news source.
Tags:
