Posted on 04 Jun 2009
Australian real gross domestic product (GDP) rose by a seasonally adjusted 0.4 per cent in the March quarter, the Australian Bureau of Statistics (ABS) said today.
This compared with a revised fall of 0.6 per cent in the December quarter versus a fall of 0.5 per cent previously reported. It also compared with an upwardly revised rise of 0.2 per cent in the September quarter of 2008.
The median market forecast was for a rise of 0.2 per cent in the March quarter, and an expansion of 0.1 per cent in the year to the end of the March quarter.
Market economists had previously forecast the economy to contract 0.2 per cent in the March quarter, but revised their predictions upward following the release of better-than-expected trade figures on Tuesday.
