Australia's economy grew by 3.1pc over the past year

BREAKING NEWS: Wednesday 01 June 2016 Australia's economic growth last quarter exceeds expectations Australia's economy grew 1.1 per cent in the first quarter and 3.1 per cent over the past year. ABS figures show growth was driven largely by a surge in export volumes, which contributed 1 percentage point out of the 1.1 per cent quarterly growth. Household consumption also added to the better-than-expected economic expansion, contributing 0.4 percentage points. Economists surveyed by Bloomberg had expected quarterly growth of 0.8 per cent and annual growth of 2.8 per cent, although year-on-year forecasts ranged from 2.4 to 3.2 per cent. Follow ABC News About this email You received this email because you are subscribed to ABC News email alerts. This message was sent to you at starnewsposting@gmail.com. Please add newslists@your.abc.net.au to your email address book to see images by default and stop the email being treated as spam. This email address is not monitored - Please don't reply to this email. This service may include material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN and the BBC World Service which is copyright and cannot be reproduced. Add or remove topics | Unsubscribe | Contact Us Australian Broadcasting Corporation, 700 Harris Street, Ultimo NSW 2007 © 2016 ABC | Conditions of Use | Privacy Policy | Discover other ABC Email newsletters