Australian economy grows 1.3% Q1 2012
Sydney - AFP
Australia's mining-powered economy expanded 1.3 percent in the first three months of 2012 -- double expectations -- as consumers spent their money following rate cuts and business investment boomed. The Australian Bureau of Statistics said the quarter-on-quarter growth of 1.3 percent, which compared with an upwardly-revised 0.6 percent for the final quarter of 2012, took annual growth to 4.3 percent.
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