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Australia Q1 economic growth slows on trade drag, domestic demand still hot

Australia's economy slowed in the March quarter as a boom in data centers sucked in imports, but domestic demand still ran hot, a reason the central bank had to raise interest rates three times this year to tame inflation. The pullback is likely to worsen as the Middle East conflict and rapid-fire policy tightening sent household spending falling, house prices flatlining and the unemployment rate edging higher- [...]