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Australia's exports, public spending boost third-quarter economic growth

Reuters  |  SYDNEY 

By Swati PandeySYDNEY (Reuters) - Australian exports made a welcome contribution to economic growth last quarter, as did government spending, likely extending the country's 27 years of recession-free expansion.Tuesday's figures from the Australian Bureau of Statistics showed government spending climbed 1.1 percent in the third quarter to an inflation-adjusted A$109.7 billion($80.7 billion) Public spending accounts for almost a quarter of annual gross domestic product (GDP) and has been a major driver of growth over the past year or so.Separate figures showed net exports likely added around ...

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First Published: Tue, December 04 2018. 09:03 IST
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