RTTNews | Aug 31, 2021 09:38PM EDT

21:37 Tuesday, August 31, 2021 (RTTNews.com) - Australia's gross domestic product expanded 9.6 percent on year in the second quarter of 2021, the Australian Bureau of Statistics said on Wednesday.

That beat forecasts for a gain of 9.2 percent following the 1.1 percent increase in the previous three months.

On a seasonally adjusted quarterly basis, gross domestic product was up 0.7 percent - again exceeding expectations for an increase of 0.5 percent after rising 1.8 percent in the three months prior.

Capital Expenditure was up 3.2 percent on quarter, slowing from 4.7 percent in the first quarter.

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