Australia's economy expands 0.6% in Q4, 3.0% on-year

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Sydney (AFP)

Australia's economy grew by a stronger-than-expected 0.6 percent in October to December, supported by government and consumer spending, to take the annual rate of expansion to 3.0 percent, data showed Wednesday.

The figures released by the Australian Bureau of Statistics beat market expectations of fourth-quarter growth of 0.4 percent for year-on-year growth of 2.5 percent.