Australia's Economy Grew Faster Than Expected in Q2 2014

Picture: NSW Treasury

The Australian Bureau of Statistics has just released the Q2 GDP for Australia and its at the top end of the range printing 0.5% in the 3 months to June taking the year on year rate to 3.1%.

The market had been expecting a result of 0.4% for the quarter and a 3% rate for the 12 months to the end of June.

So this number is within the range of expected outcomes but still a big step down from the 1.1% grwoth experienced in Q1 2014.

More to come.

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