The Reserve Bank’s gauge of future economic activity fell for the 12th successive month in September, suggesting no respite any time soon for an economy stuck in its longest downward trend since World War Two and burdened by record unemployment.

The central bank’s composite leading indicator, a proxy for the business growth cycle in the coming six to 12 months, declined 1.6%, continuing a year-long losing streak that has persisted alongside sliding business and consumer confidence.

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