Australia's economy expanded most since 2007

Source: stuff.co.nz
Due to increase in government investment and exports, Australia's economy expanded by adding 0.6% in Q4 of 2012 and 3.1% for the complete year. Those figures topped economist's expectations, as the annual growth was at its highest level since 2007. In seasonally adjusted terms, the main contributors to GDP were manufacturing, that added 2.1%, health care and social assistance, that went up 1.8%, financial and insurance services, increased 1.3% and mining, up 0.8%.
"Australia has a Goldilocks economy - not too hot, not too cold, in fact just about right. Inflation is under control, unemployment is low, the economy is growing at a ‘normal' pace and our government deficit and debt levels are low compared with other advanced nations,'' said Craig James, chief economist of CommSec.
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