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Slow Australian economic growth fuels expectations of rate cut

Latest figures sign of Australia's struggle to move from mining-investment boom

Unemployment has steadily risen over the past year, jumping to a 12-year high of 6.4 per cent in January, while consumer and public spending has mostly remained soft.


AUSTRALIA's economy expanded slower than forecast in the last three months of 2014, data showed Wednesday, fuelling expectations that the central bank will further cut interest rates to record lows.

The Australian Bureau of Statistics said that growth came in at 0.5 per cent