Australia’s growth slows

Australia’s economy grew for a fifth straight quarter in the first three months of the year, but at a slower rate than the previous quarter. Official figures show GDP in the three months to March was 0.5 per cent higher than in the same period last year. Growth for the last three months of 2009 was also revised up to 1.1 per cent, giving Australia a growth figure of 2.7 per cent for the year to the end of March.