Australia GDP slows in June quarter, still beating forecasts
Australia’s economy slowed in the June quarter as rising borrowing costs and high fuel prices weighed on consumer demand. Despite still topping forecasts, analysts warn inflation may keep requiring a deeper downturn.
Australia's economy slowed in the June quarter as rising borrowing costs and high fuel prices dampened consumer demand, yet analysts fear a deeper downturn will be needed to tame stubborn inflation.Data from the Australian Bureau of Statistics on Wednesday showed real gross domestic product (GDP) r…