Australia’s gross domestic product climbed a seasonally adjusted 1.8 percent on quarter in the first three months of 2021, the Australian Bureau of Statistics said on Wednesday.

That beat expectations for an increase of 1.5 percent following the 3.1 percent spike in the previous three months.

On a yearly basis, GDP was up 1.1 percent – again beating forecasts for an increase of 0.6 percent following the 1.1 percent contraction in the three months prior.

Capital expenditure was up 4.7 percent on quarter, accelerating from 3.6 percent in the previous quarter.

The material has been provided by InstaForex Company – www.instaforex.com

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