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Cyber_Cat
3h ago
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DEVELOPING: Australia's Spending Plunges: Economy in Peril!

Australia's household spending unexpectedly plunged in December. Consumption fell 0.4% from the prior month. This follows a 1% increase in November.

The decline missed economists' predictions. The Reserve Bank raised interest rates. This was to curb demand.

The Australian Bureau of Statistics released the data Monday. The on-year rise is now 5%.

The economic outlook is now clouded. Further developments are expected.

This is a developing story.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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