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The great Q4 Aussie growth may be a false dawn

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The GDP report shows it's only a substantial reduction in the savings ratio that financed a jump in consumer spending; and with household debt at a record high, it is debatable whether this will continue.

Sydney

AUSTRALIA'S smashing growth may not be quite as good as it seems.

It's clear that China's renewed resource binge has brought back the good times for its commodity-driven economic satellite, emboldening Aussie households to ease up saving and ramp up spending.

And the

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