Australia wasn’t immune from slowdown in US economy – Treasurer Morrison

Australian Treasurer in the Financial Review today acknowledged the vulnerability of the Australian economy to the slowdown in the US.

Morrison said the US economy's second-quarter growth rate was just 1 per cent, annualized; adding Australia wasn't immune from that weakness. "I have no doubt that Glenn Stevens ... is keenly focused on that."

“Australia is in an environment where we've got low inflation, low interest rates, low wages growth and low levels of business investment”, he stated.