The Australian economy has beaten expectations, with very strong 1 per cent growth in the first quarter driving a 3.1 per cent annual increase in GDP.
But economists have warned that may be "as good as it gets" with a range of one-off factors boosting the data and weak household income growth limiting consumer spending, which makes up about 60 per cent of the economy.
The Australian Bureau of Statistics data show commodities exports were the key driver of growth in the March quarter.
"Growth in exports accounted for half the growth in GDP and reflected strength in exports of mining commodities," the bureau's chief economist Bruce Hockman said.
The mining sector's output grew 2.9 per cent, thanks to increases in coal, iron ore and LNG production.
Mr Hockman said this fed through to the strongest increase in corporate profits over the past year, up 6 per cent in the March quarter.
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