It's the interest rate, stupid
The GDP data for the second quarter of this year has just been released and it paints a crisis picture for the economy. The year-on-year GDP growth rate came in at 4.4 per cent, making it the third successive quarter when GDP growth has come in below 5. The previous two quarters' year-on-year (yoy) GDP growth registered at 4.8 and 4.7 per cent respectively.
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