Asian Economic News

Australia GDP +0.6% On Quarter In Q1

Australia's gross domestic product was up a seasonally adjusted 0.6 percent in the first quarter of 2013 compared to the previous three months, the Australian Bureau of Statistics said on Wednesday.

That missed expectations for an increase of 0.8 percent following the 0.6 percent gain in the fourth quarter of 2012.

On a yearly basis, GDP was up 2.5 percent - also shy of forecasts for an increase of 2.7 percent after climbing 3.1 percent in the three months prior.

by RTTNews Staff Writer

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