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Australia govt spending likely added to Q3 growth

Published 04/12/2018, 11:45 am
Updated 04/12/2018, 11:50 am
© Reuters.  Australia govt spending likely added to Q3 growth

SYDNEY, Dec 4 (Reuters) - Australian government spending on operational items rose 0.5 percent in the September quarter from the previous quarter to an inflation-adjusted A$87.06 billion ($64.07 billion), the Australian Bureau of Statistics reported on Tuesday.

Investment in assets by the government and public enterprises climbed 3.4 percent to A$22.67 billion.

The figures suggest overall government spending made a small addition to economic growth last quarter.

The data will feed into the gross domestic product (GDP) report for the September quarter due on Wednesday. Economic growth likely rose 0.6 percent last quarter, according to a median of economists polled by Reuters, leaving the annual pace at 3.3 percent. ($1 = 1.3589 Australian dollars)

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