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Australian government spending rose 0.8% in Q1
[SYDNEY] Australian government spending on operational items rose 0.8 per cent in the March quarter from the previous quarter to an inflation-adjusted A$90.14 billion (S$86 billion), the Australian Bureau of Statistics reported on Tuesday.
Investment in assets by the government and public enterprises rose 0.4 per cent to A$23.36 billion. The data suggests overall government spending added to economic growth last quarter.
Public spending accounts for around 24 per cent of gross domestic product (GDP), data for which are due on Wednesday. Economic growth was forecast to rise 0.4 per cent last quarter, according to a median of economists polled by Reuters, dragging the annual pace down to 1.7 per cent.