Australian economy ties record for longest expansion

  |   World News

Australia's economy squeezed out just enough growth last quarter to match the Netherlands' record of 103 quarters without recession, but its stamina is in doubt as households struggle with paltry wage rises and punishing debt.

Government data out on Wednesday data showed gross domestic product (GDP) rose a pedestrian 0.3 percent in the first quarter, a pullback from the previous quarter's 1.1 percent.

But the central bank expressed confidence that growth would pick up over the next couple of years to above 3 percent, and held interest rates at a record low 1.50 percent where they have been since last August.

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