Australia’s economic growth slows down in second quarter, say economists. Annual economic growth in Australia has begun to slow as demand for natural resources slows around the world. Decreased growth in key developing countries such as china and India has taken its toll on the Australian economic, which is heavily based on the mining sector. Similarly commodity prices such as iron ore have also fallen in recent months, negatively effecting Australian mining company profits. A knock on effect of this is decreased investment in the Australian mining sector, hurting investment in the country. It is believed that this decline in demand for natural resources will continue throughout the year, and Australian economic growth is not likely to increase for some time.