Global Economic News

Australia GDP Adds 0.3% On Quarter In Q1

Australia's gross domestic product was up a seasonally adjusted 0.3 percent on quarter in the first three months of 207, the Australian Bureau of Statistics said on Wednesday.

That was in line with expectations following the 1.1 percent expansion in the previous three months.

On a yearly basis, GDP gained 1.7 percent - beating forecasts for 1.6 percent after climbing 2.4 percent in the three months prior.

Net exports detracted 0.7 percentage points from growth, the bureau said.

by RTTNews Staff Writer

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