CANBERRA, ACT, June 3 -- The Treasurer of Australia issued the following media release:
Today's National Accounts show the Australian economy grew 0.3percent in the March quarter, to be 2.5percent higher through the year.
This is very solid in the circumstances.
This is the equal fastest pace of annual growth in almost threeyears.
It shows how resilient our economy is at a time of substantial global economic volatility.
The biggest takeaway of today's National Accounts is that all of the growth in the March quarter came from the private sector.
Private sector investment is booming in Australia.
Economic growth was driven by strong growth in business investment, solid consumption and ongoing growth in dwelling investment.
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