Australia’s GDP grows 0.3 percent

YEREVAN, June 7. /ARKA/. Australia’s GDP rose 0.3 percent in the first quarter of this year, compared with the previous quarter, world media reported Wednesday referring to official reports. 

This allowed the country to ward off a recession and break world economic record for longest time without a recession.

The growth in the nation’s economy was bigger than what economists have anticipated. The economy forecast was for it to rise by 0.1 percent in the quarter and to have climbed by 1.4 percent over the 12 months to March 2017.

The Australian dollar gained a third of a cent to US75.3¢ immediately after the Australian Bureau of Statistics revealed this quarterly economic growth. --0---

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12:44 06/07/2017