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Australia’s economy grows by more than expected

Australia’s economy grew by more than expected in the first three months of the year, allaying fears of a global slowdown hitting its growth.

The economy grew by 1.3 percent during the period from the previous three months. Analysts had forecast growth of 0.5 percent.

Compared with the same period last year, the economy grew by 4.3 percent.

(Source: BBC News )