Australia's Economy Grows 0.5% In June Quarter, 3.3% On-year

Australia's economy grows 0.5% in June quarter, 3.3% on-year

SYDNEY, (UrduPoint / Pakistan Point News -7th Sept,2016) : Australia's economy expanded by 0.5 percent in the June quarter, with an upswing in government spending offsetting a fall in net exports, to take the annual rate of growth to 3.3 percent, official data showed Wednesday.

The Australian Bureau of Statistics figures were largely in line with expectations as the economy continues its shift away from an unprecedented boom in resources investment.