Australia economy to extend its 25-year streak without recession.

Australia's economy has jumped sharply in the last 
quarter of 2016, allowing the resource-rich economy to 
extend its 25-year streak without recession.

It brings the country close to breaking the Netherlands' 
record of modern-era uninterrupted economic growth.

Australia's economy had contracted in the third quarter 
but the surprise rebound pulled annual figures back to a 
2.4% growth rate.

The recovery was attributed largely to strong exports
 and consumer spending.

Australia has not seen a recession - defined as two consecutive quarters of negative growth - since June 
1991.

It is now just one quarter short of the Dutch record 
set between 1982 and 2008.

"The outlook for the next year is reasonably bright," 
Shane Oliver of AMP Capital told the media. "We are
 seeing a pickup in export volumes and we have seen a
 big rebound in key commodity prices."

Mr Oliver added: "Growth should probably get back to 
2.5%, maybe 3% over the course of this year."

Estimates by the country's central bank see growth picking 
up to around 3% for 2017 thanks to the recovering 
commodity prices.