Australian Economy exceeds expectations

1144347_50794304Australia has been recognized among the fastest growing countries in the world, backed by a strong first quarter in exports and construction. According to the Australian Bureau of Statistics, the country’s Gross Domestic Product increased by 1.1% for the first three months of the year, increasing the annual growth rate of the country to 3.5%.

The 1.1% increase in the GDP came as a surprise, as economists were expecting an increase of 0.9%. Dwelling construction was backed by the recent announcement of the Reserve Bank to keep interest rates at 2.5%, with mining, financial and insurance services playing a role in the economy’s strong performance.

Read more about this on the Australian website.

Author: Dorian Traill

Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.

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