Australia’s economy unexpectedly accelerated last quarter, providing a tailwind for the winner of this week’s election and sending the nation’s currency higher. $FXI
Second-quarter gross domestic product advanced 0.6 percent from the previous three months, when it rose a revised 0.5 percent, a Bureau of Statistics report released in Sydney today showed. The result compared with the median of 31 estimates in a Bloomberg survey for a 0.5 percent gain. From a year earlier, the economy expanded 2.6 percent, also exceeding estimates.