Australia’s economy is on public sector life support

Slowly but surely, the reality is dawning that the Australian economy has become a ward of the state. From The ABC:

The long-running Westpac-Melbourne Institute consumer survey found sentiment fell 4.1 per cent in July to a level below 100 points, suggesting shoppers are downright pessimistic, despite two interest rate cuts over the past two months.

Businesses are not trading strongly either.

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