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Reuters
Reuters
Business

Australian government spending rose 0.8% in first quarter

FILE PHOTO: Tourists walk around the forecourt of Australia's Parliament House in Canberra, Australia, October 16, 2017. REUTERS/David Gray

SYDNEY (Reuters) - Australian government spending on operational items rose 0.8 percent in the March quarter from the previous quarter to an inflation-adjusted A$90.14 billion, the Australian Bureau of Statistics reported on Tuesday.

Investment in assets by the government and public enterprises rose 0.4 percent to A$23.36 billion. The data suggests overall government spending added to economic growth last quarter.

Public spending accounts for around 24% of gross domestic product (GDP), data for which are due on Wednesday. Economic growth was forecast to rise 0.4 percent last quarter, according to a median of economists polled by Reuters, dragging the annual pace down to 1.7 percent.

(Reporting by Wayne Cole; Editing by Simon Cameron-Moore)

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