Australia government spending rises 0.3% in Q4
[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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Luxury sector outlook clouded by China’s slow recovery
TikTok CEO expects to defeat US restrictions: ‘We aren’t going anywhere’
TikTok artists and advertisers to stay with app until ‘door slams shut’
Biden signs Ukraine aid, TikTok ban Bills after Republican battle
UAE announces US$544 million for rain repairs, says lessons 'learned'
HSBC says growing Chinese wealth fuels client investments in US