Business Services Industry
AUSTRALIAN ECONOMY GREW 0.7 PCT IN THE MARCH QUARTER.
AsiaPulse News, April, 2003
SYDNEY, April 7 Asia Pulse - Australia's economy grew slightly during the March quarter at 0.7 per cent. According to the AAP economic indicator for April, gross domestic product (GDP) was expected to have grown 0.7 per cent in the March quarter, seasonally adjusted, to be up 3.0 per cent in the year to March.
Improvements in the trade balance likely countered by a softer retail sectorwere responsible for the results, according to the latest AAP survey.
GDP grew by 0.4 per cent in the December quarter, adjusted.
The March quarter data will be published by the Australian Bureau of Statistics on June 4.
HSBC senior economist Anthony Thompson said the large decline in imports would be a "big plus" for GDP in the March quarter.
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