FILE PHOTO: The downtown skyline is seen following the coronavirus outbreak in Sydney, Australia, March 18, 2020. REUTERS/Loren Elliott

August 31, 2021

SYDNEY (Reuters) – Australian government spending rose strongly in the June quarter fuelled by increased investment in public infrastructure, delivering a much-needed boost to economic growth.

Spending on operational items rose 1.3% in the June quarter from the previous quarter to an inflation-adjusted A$105.5 billion ($76.99 billion), the Australian Bureau of Statistics reported on Tuesday.

Investment in fixed assets by the government and public enterprises jumped 7.4% to A$29.2 billion. The ABS estimated total public spending would add around 0.7 percentage points to June quarter gross domestic product (GDP).

($1 = 1.3702 Australian dollars)

(Reporting by Wayne Cole; Editing by Himani Sarkar)


Source: One America News Network

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