Fall in exports slows Australian growth

A man advertises a store in Sydney's central business district on August 5, 2014Australia’s economy lost pace in the second-quarter of 2014 after a sharp fall in exports saw growth expand by just 0.5 percent following a strong start to the year, data showed on Wednesday. “The unemployment rate is still too high. We’ve got to get economic growth above trend in order to start to bring the unemployment rate down.” National Australia Bank senior economist David de Garis said “an average of 0.8 percent for the two quarters is quite a good outcome”.

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