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Australia government spending rises 0.3% in Q4

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Australian government spending for consumption rose 0.3 per cent in the fourth quarter to an inflation-adjusted A$70.3 billion (US$54.5 billion), the Australian Bureau of Statistics reported on Tuesday.

[SYDNEY] Australian government spending for consumption rose 0.3 per cent in the fourth quarter to an inflation-adjusted A$70.3 billion (US$54.5 billion), the Australian Bureau of Statistics reported on Tuesday.

Investment spending by the government and public enterprises fell by 0.9 per cent to A$17.64 billion.

However this series has been badly distorted in recent years by the transfer of assets between the public and private sectors.

The data will feed into the gross domestic product (GDP) report for the third quarter due on Wednesday.

REUTERS