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March quarter GDP beats expectations
March quarter GDP beats expectations

Australian gross domestic product rose by a better than expected 1.3 per cent in the three months to March, official figures show.

The March quarter growth follows an upwardly revised 0.6 per cent rise in the December quarter.

Over the year to March, GDP grew by 4.3 per cent, seasonally adjusted in chain volume terms, the Australian Bureau of Statistics said.

Economists had been expecting GDP to rise by 0.6 per cent in the March quarter for an annual rate of 3.3 per cent, according to an AAP survey of 13 economists conducted on Friday.

More to come…