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(Australian Associated Press)
Australia’s gross domestic product fell 0.5 per cent in the September quarter, cutting annual economic growth to just 1.8 per cent. Here’s why:
* Consumer spending grew by just 0.4 per cent in the quarter, the weakest growth since 2013.
* Housing investment fell 1.4 per cent, a correction from strong growth in previous quarters.
* Public spending dropped 2.4 per cent after a big rise the previous quarter.
* Business investment grew by 0.1 per cent, with non-mining investment barely making up for falling mining investment.
* Net exports fell, as imports outweighed exports.
(Source: AMP Capital and CommSec)