GDP beats estimates, mining boom payoff arrives

01 June 2016

 

For the second consecutive quarter, Australia has recorded annual GDP growth of 3% or better. The economy grew by 1.1% over the March quarter which was higher than the median forecast rate of 0.8%. The Australian economy grew by 3.1% on a year-on-year basis, again higher than the 2.8% expected by economists. All of the increase was due to the export sector. The net exports component of GDP accounted for...

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