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Australia clocks 0.6% quarterly growth on exports increase, 2012 growth rate at 3.1%

AFP
March 7, 2013, 12:48 am TWN

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SYDNEY -- Australia's economy grew 0.6 percent in the three months to December thanks to a pick-up in exports but analysts warned the country's mining boom covered up weakness in other sectors.

The bureau of statistics said the quarter-on-quarter expansion followed a 0.7-percent gain in the September quarter, and resulted in a 3.1-percent annual growth rate in 2012, compared to 2.3 percent in 2011.

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