GDP rose 0.4% in the March quarter

Australia’s economy expanded by 0.4 per cent in the March quarter and grew by 1.8 per cent over 12 months, official figures show.

The growth was slightly under market consensus forecasts, which had predicted quarterly growth of 0.5 per cent and an annual improvement of 1.8 per cent.

Government final consumption expenditure contributed 0.2 percentage points to GDP growth during the quarter, while net exports contributed 0.2 percentage points, driven by an increase in exports.

AAP

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