Analysts suprised by rise in Australia's Economic Growth
4 June 2008
A rise of 0.6% (seasonally adjusted) in GDP in the March quarter has suprised analysts. Expectations were for a rise of 0.3%. The GDP for the December quarter was revised up to 0.7%.
For the year to March the economy grew by 3.6%, compared with expectations of a 2.9% rise. The main contributor to this expansion was household consumption, despite interest rate rises in February and March.