Australia's recession free record hits 27 years

Australian economic growth has picked up pace, growing by 3.4 per cent in the year to the end of June. 

It's a step up from the 3.1 per cent year-on-year GDP growth in the March quarter and above the 3 per cent the Reserve Bank had forecast. 

ABC's Peter Ryan says the economy has notched up 27 years of unbroken growth.