Australian economy grows by sluggish 0.2 percent in June quarter and 2 percent for year

September 2, 2015 4:51 AM

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CANBERRA, Australia – Australia's economy has grown by a slower-than-expected 0.2 percent in the three months through June, dragged down by waning Chinese demand for resources including iron ore and coal.

Economists had forecast 0.4 percent growth in the April-June quarter. Australia's resource-based economy grew by 0.9 percent in the January-March quarter.

Also read: Euro zone June industry output drops by more than expected

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