Australian government spending jumps in Q3, adds to GDP

  • 11/30/2021
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SYDNEY, Nov 30 (Reuters) - Australian government spending surged in the September quarter fuelled by increased stimulus as coronavirus lockdowns hit households and businesses, delivering a much-needed boost to economic growth. Spending on operational items jumped 3.6% in the third quarter from the previous quarter to an inflation-adjusted A$114.8 billion ($82.01 billion), the Australian Bureau of Statistics reported on Tuesday. Investment in fixed assets by the government and public enterprises dipped 1.7% to A$28.3 billion, after a strong rise the previous quarter. In all, the ABS estimated total public spending added around 0.7 percentage points to third quarter gross domestic product (GDP). ($1 = 1.3998 Australian dollars)

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