A day after the Reserve Bank sounded so upbeat, new economic figures released on Wednesday delivered the news no one wanted.
Consumers have wound back their spending to GFC levels and the economy grew at a weaker-than-expected pace in the third quarter of this year. In short, consumer spending, which just posted its weakest quarter since the final three months of 2008, is still getting squeezed by the dangerous combination of no wage growth and rising costs. It means the Australian dollar
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