Australia's latest national accounts reveal an economy undergoing a painful transition.
The Reserve Bank of Australia kept the cash rate on hold last week.
But Radio New Zealand's Sydney correspondent wonders if the RBA would have made a different decision if it had seen the latest national accounts, released a day after its announcement.
The numbers showed the economy growing at barely above 2% this year, much weaker than its potential.
As expected, the mining boom is topping out, but there's nothing to take its place.
Manufacturing shrank in the March quarter, construction went backwards, consumer spending has slowed and a strong dollar has hit tourism.
While the dollar is now in retreat, Radio New Zealand's Sydney correspondent says that may not be enough to stop the RBA from cutting the cash rate further in the coming months.
