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Australia's economy slows, debt-laden consumers a deadweight

Reuters  |  SYDNEY 

By Wayne Cole and Swati PandeySYDNEY (Reuters) - Australia's economy slowed more than expected last quarter as consumers reacted to tepid wage growth by shutting their wallets, a disappointing outcome that sent the local dollar sliding as investors pushed out the chance of any rate hike.The news came as fears of a possible slowdown in the U.S. economy and the Sino-U.S. tariff slugged world shares and threatened future business investment.The gloomy report provides another blow to Australia's centre-right government, which is already lagging in polls ahead of a likely election in ...

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First Published: Wed, December 05 2018. 08:46 IST