Australia's economy grew strongly in the first three months of 2018 as exports emerged from a brief slump, company profits lifted and a wave of government infrastructure spending continued to build. Gross domestic product grew 1.0% in the first quarter, and 3.1% from a year earlier, the Australian Bureau of Statistics said Wednesday. The economy grew an upwardly revised 0.5% on-quarter in the fourth quarter of 2017. Economists had expected 0.9% growth on quarter and a 2.9% on-year increase. The resource-rich economy, which has been recession free for over a quarter of a century, garnered fresh momentum amid a lengthy period of record low interest rates, further expansion of the gas industry, and strength in commodity prices.via