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A Reuters poll showed that analysts cut Australia's economic growth forecast again as high domestic debt and wage sluggishness put consumers in a difficult position, while a slowdown in global growth inhibited corporate investment plans.
Analysts surveyed by Reuters forecast that Australia's annual gross domestic product (GDP) of A$1.9 trillion ($1.29 trillion) will expand by 1.9% in 2019, less than the 2.1% growth forecast in the previous survey and the 2.7% growth expected earlier this year.
Economic growth is expected to increase slightly to 2.5% in 2020 and 2001, but still below the trend growth rate of 2.75%.
The poor performance of several consecutive quarters has slowed the annual economic growth to the lowest level of 1.4% in 10 years, mainly due to consumer spending and weak housing construction.

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