Data Alert: Australian economy expands at a solid pace

28 Jun 2013

The Australian economy continues to expand despite uncertain conditions offshore and significant transitions on the domestic front.

The latest Australian Government data showed the national economy rose 0.6 per cent in the quarter to March and 3.1 per cent over the year to March.

Australia has recorded annual average real gross domestic product (GDP) growth of 3.3 per cent from 1992 to 2013, highlighting the resilience of the nation’s economy.

The International Monetary Fund (IMF), in its April 2013 World Economic Outlook, has forecast annual average GDP growth for Australia of 3.1 per cent between 2013 and 2018. The IMF outlook for Australia is the highest among major advanced economies.

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