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Economy

Housing slump forces Australia to revise down growth forecasts

Central bank sees 3% gain in 2019 as policymakers turn less hawkish

Australia's housing market has been carrying the economy since the mining boom fizzled, but now there are fears that a housing slump could sap growth.   © Reuters

SYDNEY -- Uncertainty over Australia's economic outlook is growing thicker, with the central bank citing a housing slump and China in downwardly revising its growth forecast for 2019 by 0.25 of a percentage point, to 3%.

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