The latest GDP figures have helped to allay concerns that the economy is heading into a slump, with economic activity expanding by a solid 1% through the June quarter. We’ve been highlighting the likelihood of a strong June quarter result for some time and were forecasting a gain of 0.9%. On the day, not only was the result strong like we expected, the details were also encouraging for the economy’s prospects. Growth was widespread across industries, with solid gains in areas like agriculture, retail and recreational services. Meanwhile, one-off factors actually played less of a role than we expected. Importantly, ... (full story)