Australia's economy grew 0.5% in the last quarter due to good exports, consumer spending and the construction industry.

Although at the lower end of expectations, the quarter-on-quarter growth was better than the previous quarter's 0.4%. From a year earlier, growth slowed to 2.5% from 2.7%.

The ABS (Australian Bureau of Statistics) said that net exports contributed 0.7 percentage points to GDP growth, while household consumption contributed 0.5%. Dwelling construction added 0.1 percentage points.