Australia government spending makes minor contribution to Q2 GDP
10:00 pm Monday, September 05th, 2022
SYDNEY (Reuters) – Australian government spending edged up 0.5% in the June quarter as consumption paused after a very strong first quarter, making a minor contribution to economic growth.
Spending on operational items fell 0.8% in the second quarter from the previous quarter to an inflation-adjusted A$118.00 billion ($80.55 billion), the Australian Bureau of Statistics reported on Tuesday.
Total investment in fixed assets by the government and public enterprises jumped 5.9% to A$29.7 billion.
In all, the ABS estimated total public demand added 0.1 percentage points to June-quarter gross domestic product (GDP).
($1 = 1.4650 Australian dollars)
(Reporting by Wayne Cole; Editing by Sam Holmes)
