Australia's economy toasts 25 years without recession
Its surging Q2 exports more than made up for a patchy performance at home with declining mining investment
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Sydney
AUSTRALIA'S resource-rich economy expanded at its fastest annual pace in four years last quarter, clinching a remarkable run of 25 years without recession as surging exports more than made up for a patchy performance at home.
The local dollar held firm at US$0.7662 after news that gross domestic product (GDP) rose 3.3 per cent in the year to June, up from around 2.9 per cent the previous quarter.
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