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Australia’s economy shows best result in two years as consumer spending picks up

By Stella Huangfu, Associate Professor, School of Economics, University of Sydney

The Australian economy picked up strength in the June quarter as consumers opened their wallets, boosted by interest rate cuts earlier in the year.

New figures from the Australian Bureau of Statistics showed gross domestic product (GDP) grew by 0.6% in the June quarter and 1.8% over the year — the strongest outcome in two years and above market and economists’ expectations.

Treasurer…

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