The Bureau of Statisticians and Census of New South Wales has released data on the gross domestic product for the year ending March 2019, which it says shows the Australian economy grew at its fastest rate in two years.
The Bureau says the economy grew by 0.7 per cent in real terms, which is the highest rate since January 2019.
That growth rate is down from 0.9 per cent the previous quarter.
But while the overall growth rate was lower than expected, it is not by much.
For the year, Australia’s economy grew an annualised rate of 2.9.
There are three measures of growth: GDP, gross domestic expenditure and real gross domestic income.
GDP is the amount of money in the economy and is generally used to assess the overall health of the economy.
It is a measure of how much people are spending on goods and services.
Real GDP is the gross value added (GVA) of the country’s economy.
This is the value of all goods and products, excluding those used for capital goods, that are produced in the country.
This is the measure the Bureau uses to assess how much money the economy is generating.
In the March 2019 quarterly figures, the GDP grew by 1.9 percent, compared with an annual growth rate of 0.6 per cent.
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