Australian government spending rises 1 pct in Q2

SYDNEY, Sept 4 (Reuters) - Australian government spending on operational items rose 1 percent in the June quarter from the previous quarter to an inflation-adjusted A$85.57 billion ($61.61 billion), the Australian Bureau of Statistics reported on Tuesday.

Investment in assets by the government and public enterprises was steady at A$22.0 billion. The data suggests 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 June quarter due on Wednesday. Economic growth likely rose 0.7 percent last quarter, according to a median of economists polled by Reuters, leaving the annual pace at 2.8 percent. ($1 = 1.3889 Australian dollars) (Reporting by Wayne Cole Editing by Shri Navaratnam)

2018-09-04 03:38:23

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