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Trade performance best in 44 years: govt

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December 07, 2017

The Australian economy is showing few signs of slowing down after 26 years of expansion.

The Australian economy is showing few signs of slowing down after 26 years of unprecedented expansion and is growing at a rate that sustains a strengthening jobs market.

Wednesday's national accounts for the September quarter showed the economy entering the 27th year at an annual growth rate of 2.8 per cent, the fastest pace in 15 months.

Such strength came despite subdued household spending in the face of weak wage growth, high energy costs and increasing debt levels.

Exports also made no contribution to the growth result, being stifled by an equal amount of imports as businesses built up their capital goods as they part of an investment spree.

Business investment and construction were key planks to the overall September quarter results.

New trade figures on Thursday will show how Australia performed on the international stage in October and the first stage of the December quarter.

Economists expect a trade balance of $1.4 billion compared with $1.7 billion in September.

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