Data out this morning showed that Australian GDP rose by 0,.3 per cent Q/Q (half of consensus estimates), from 0.9 per cent growth in Q2 2018, taking the annualised rate down to 2.8 per cent in Q3 from 3.1 per cent in the previous quarter. CNBC blames this on tepid wage growth which has meant people are less willing to spend. They believe that this news will not be welcome by the Reserve Bank of Australian nor by the ruling centre-right government which is lagging in the polls ahead of a probable election in May.
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