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ECONOMISTS PAINT BRIGHT PICTURE OF AUSTRALIAN GROWTH.
SYDNEY, Sept 3 Asia Pulse - Economists are painting a very bright picture of Australia's national growth in the June quarter.
The growth was underpinned by consumer spending and retail sales.
The AAP economic indicator for August shows growth at 0.8 per cent in the June quarter and over the year to June 2001 at 1.7 per cent.
Australian real gross domestic product rose by a seasonally adjusted 1.1 per cent in the March quarter, the Australian Bureau of Statistics said.
Over the year to March, GDP rose 2.1 per cent.
HSBC senior economist Anthony Thompson said he was looking for positive contributions from consumer spending with retail volumes up.
"There also the potential for positive business investment and also the first of a long string of positives from the housing industry," Mr Thompson said.
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Source: HighBeam Research, ECONOMISTS PAINT BRIGHT PICTURE OF AUSTRALIAN GROWTH.