Australia's gross domestic product (GDP) grew by 1.0% in the March quarter 2018, following a 0.5% rise in the December quarter. The Australian economy has grown 3.1% through the year. Exports of goods and services rose 2.4% following a fall of 1.5% in December. Through the year exports of goods and services is up 4.6%. Exports of goods were up 2.9% driven by non-rural exports (3.3%) with mining commodities, Liquified Natural Gas (LNG), Coal, Iron Ore and Non Monetary Gold the main drivers. Private non-financial corporation GOS grew 6.0% this quarter, the strongest growth since December quarter 2016. This was driven ... (full story)

Australia's economy expanded 1.0 per cent in the March quarter and grew 3.1 per cent over the 12 months to March, official figures show. The growth is slightly ahead of market consensus forecasts, which had predicted quarterly growth of 0.9 per cent and an annual improvement of 2.8 per cent. A strong rise in exports, in particular those for coal, iron ore and liquefied natural gas, accodunted for half the increase in Australia's gross domestic product (GDP) in the quarter, figures from the Australian Bureau of Statistics show. The Australian dollar has gained on the latest data, rising to 76.56 US cents at 1137 AEST, ... (full story)