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Commonwealth Bank Chief Economist Michael Blythe looks at Australia’s elevated level of household debt and suggests the main threat this poses is the drag on consumer spending. He says the answer lies not so much with reducing debt but boosting incomes.
Australia’s goods-producing economy continued to expand in August, but the pace of improvement was weak by historical standards.
Growth momentum in the Australian service sector continued to abate in August, with the rate of business activity expansion slowing for a third straight month.
Sydney’s $2.1 billion CBD and South East Light Rail is benefiting from CommBank’s experience.
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