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Australia's economy expanded at a slightly bigger rate than expected in the 2nd quarter.
The Australian Bureau of Statistics reported Wednesday that the gross domestic product rose a seasonally adjusted 0.6 percent in the 2nd quarter compared to Q1.
GDP was also 0.6 percent higher than in Q2 of one year earlier. Most economists had forecast an increase of 0.2 percent on quarter and 0.3 percent compared to a year ago.
The data was reported less than 24 hours after the Reserve Bank of Australia announced it was holding interest rates steady at 3.0 percent, pointing to what it saw as "stronger than expected" economic conditions.
The Bureau also said its preliminary GDP growth rate of 0.4 percent for the first quarter remained unchanged.
Non-farm GDP increased 1.1 percent on quarter while the Terms of Trade fell 7.4 percent.
The picture was not as rosy for income earners, as the report said real net disposable income decreased a seasonally adjusted 3.2 percent.
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