2 Sep 2010

Australian growth up 1.2% in June quarter

9:02 am on 2 September 2010

Australia's economy has surprised economists, expanding a better than expected 3.3% in the year to June.

Growth jumped 1.2% in the three months to June - the biggest quarterly growth in three years.

Official figures show growth is moving away from public-sector stimulus and towards the private sector, boosted by mining exports, as well as private consumption, and housing.

Citigroup's Josh Williamson says it strikes a good balance of growth without putting too much pressure on interest rates.