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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

Published Wed, Sep 7, 2016 · 09:50 PM

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.

The value of all goods and services rose 0.5 …