SYDNEY, (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).
