Slowdown to get slower!
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The Australian Bureau of Agricultural and Resource Economics (ABARE) has forecast that as a result of the annualised impact of the drought on the nation's winter grain crops on GDP will be 0.7 per cent. With GDP growth currently stalling at 2 per cent per annum, this negative impact is substantial. The smart money is that the impact will actually be over 1 per cent per annum of lost production.
The impact will not stop with the lost crop production however. Urban households are already feeling the impact of higher fruit and vegetable prices combined with the stress they are fe More ...
Posted on Fri, 27 Oct 2006 05:08 by bill (801 day(s) old)
