Australian Economy Pulls Back From Brink of Recession
June 7, 2001 - 0:0
SYDNEY The Australian economy rebounded from the brink of recession, showing healthy growth of 1.1 percent for the March quarter on Wednesday and giving an embattled government its first good news this year.
After contracting 0.6 percent in the December quarter from the previous three months, bureau of statistics data showed strong household and government spending had pushed the economy back into the black, AFP reported.
Economic growth in the March quarter was 2.1 percent compared to a year earlier.