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Australian economic growth has beaten expectations, rising 0.6% in the final quarter of 2015 in seasonally adjusted chain volume terms.
The figure, above expectations for an expansion of 0.4%, left the annual rate of growth at 3.0%. This too was significantly above forecasts for an increase of 2.5%.
It was the fastest annual expansion seen since the September quarter of 2012.
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According to the ABS, an increase of 0.8% in household final consumption, along with 6.0% growth in public gross fixed capital formation, was enough to offset a fall in private business investment of 3.3%.
The table below, supplied by the ABS, reveals the contribution to economic growth by component. The quarterly contribution to economic growth in percentage points is shown in red.
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