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Economy gallops along
Tuesday 31st of August 2004
The forecasting group's latest predictions indicate another strong year, after a robust 3.5 per cent growth in the March 2004 year.
After several years of "rapid expansion", growth would slow to 2.5 per cent in the year to March 2006, before picking up again the following year, the institute said.
However, the slowdown was taking longer than expected to arrive.
"It is a very gentle slowdown, and a level (2.5 per cent growth) that we would have been excited about 15 years ago," institute director Brent Layton said.
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After several years of "rapid expansion", growth would slow to 2.5 per cent in the year to March 2006, before picking up again the following year, the institute said.
However, the slowdown was taking longer than expected to arrive.
"It is a very gentle slowdown, and a level (2.5 per cent growth) that we would have been excited about 15 years ago," institute director Brent Layton said.
Read More - Opens in a new window
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