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Australia's GDP grows 1.1pc, led by exports which alone rose 4.4pc
AUSTRALIAN GDP was up 1.1 per cent quarter to quarter with the one per cent gain entirely attributed to an export boom, which alone increased 4.4 per cent.
Year on year, Australian GDP as up 3.1 per cent, beating Bloomberg's averaging of estimates of a 2.8 per cent gain.
Australia's longer-term potential growth rate is forecast at 2.5 per cent by the National Australia Bank Ltd. Weaker trends in population growth and investment suggest a resurgence in productivity will be the only way to counter that, according to the lender's chief economist, Alan Oster.
Year on year, Australian GDP as up 3.1 per cent, beating Bloomberg's averaging of estimates of a 2.8 per cent gain.
Australia's longer-term potential growth rate is forecast at 2.5 per cent by the National Australia Bank Ltd. Weaker trends in population growth and investment suggest a resurgence in productivity will be the only way to counter that, according to the lender's chief economist, Alan Oster.
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