Newsflash: Australia’s Economic Growth Surges

Today’s economic growth results (Wednesday 6^th June) for the 3 months to March have more than doubled expectations and represent the strongest growth figures in many years.

The GDP figures, compiled by the Bureau of Statistics, showed a 1.3% increase on the back of strong growth in private investment and consumer spending. One commentator suggested the figures question the poor consumer confidence rhetoric and suggest that consumers are spending more, just not with Myer and David Jones.