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Economy

Australia's 25-year run without a recession ties record

Resource industries battered by weather, but service sector picks up slack

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Residential construction is booming in Australia's major cities amid an influx of Chinese investors.   © Reuters

SYDNEY -- The Australian economy grew a seasonally adjusted 0.3% in the January-March period, the Australian Bureau of Statistics announced Wednesday, marking 103 quarters, or 25 years and nine months, without a recession.

A recession is traditionally defined as two consecutive quarters of falling gross domestic product. Australia's streak ties the record held by the Netherlands, which went on a comparable run starting in the early 1980s.

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