Economic Indicators
Australia government spending rises in Q1, adds to growth
2024.06.04 02:53
SYDNEY (Reuters) – Australian government spending rose in the March quarter to make a much needed contribution to economic growth, data showed on Tuesday, helping offset a steep drag from net exports.
Spending on operational items rose 1.0% in the first quarter from the previous quarter to an inflation-adjusted A$135.7 billion ($90.61 billion), the Australian Bureau of Statistics (ABS) reported.
Total investment in fixed assets by the government and public enterprises fell 0.9% to A$33.1 billion. In all, the ABS estimated total public demand added 0.2 percentage points to March-quarter gross domestic product (GDP).
($1 = 1.4977 Australian dollars)
