CANBERRA, ACT, June 4 -- The Treasurer of Australia issued the following media release:
Today's National Accounts show that our economy continues to grow in the face of substantial economic headwinds at home and abroad.
While overall growth in the Australian economy remains subdued, the private sector recovery we have planned and prepared for is gradually taking hold.
With all the uncertainty in the world, any growth is a decent outcome.
Lower public demand, combined with global economic uncertainty and the impact of natural disasters, meant growth was weaker than expected.
Even with these challenges, we are seeing private demand and incomes continuing to recover.
Today's numbers show the private sector stepping up as public demand st...