Australia economy on path for gradual recovery-RBA

SYDNEY, March 12 (Reuters) - Australia's economy is on a path to gradual recovery thanks to low interest rates and a lower exchange rate, a top central banker said on Wednesday, while playing down data showing a decline in consumer confidence.

Reserve Bank of Australia (RBA) Deputy Governor Philip Lowe said the broad suite of indicators across the economy were pointing to a pick up in growth and it was a mistake to concentrate on just one or two monthly numbers.

Earlier on Wednesday, a private survey of consumer sentiment

dropped to 10-month low for March with respondents apparently fretting about the outlook for the economy and employment.

(Reporting by Wayne Cole; Editing by Kim Coghill)

((Wayne.Cole@thomsonreuters.com)(612 9373 1813)(Reuters Messaging: wayne.cole.thomsonreuters.com@reuters.net))

Keywords: AUSTRALIA ECONOMY/RBA