GDP growth in the June quarter rose a softer than expected 0.4%. The underlying pace of growth slowed markedly over the first half of 2015.
Treasury expects an around trend pace of growth over the second half of 2015 (i.e. around 0.6% a quarter).
Further declines in business sentiment and consumer confidence across the September quarter show that risks to the near-term outlook are to the downside.
That said, monetary conditions have continued to ease and this will support a pick-up in growth further out.
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