Australia government spending rose 1.8 pct in Q4

SYDNEY, March 5 (Reuters) - Australian government spending on operational items rose 1.8 percent in the December quarter from the previous quarter to an inflation-adjusted A$89.29 billion, the Australian Bureau of Statistics reported on Tuesday.

Investment in assets by the government and public enterprises rose 0.3 percent to A$23.4 billion. The data suggests overall government spending added to economic growth last quarter.

The data will feed into the gross domestic product (GDP) report for the December quarter due on Wednesday. Economic growth is forecast to rise 0.4 percent last quarter, according to a median of economists polled by Reuters, leaving the annual pace at 2.6 percent. (Reporting by Wayne Cole Editing by Shri Navaratnam)

2019-03-05 02:41:54

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