In the quarter, the GDP grew by 0.3 per cent and by 2.8 per cent through the year.
New public investment grew by 5.1 per cent in the quarter to be 4 per cent higher through the year. Public spending was funded through increased revenue, the ABS noted.
General government final consumption expenditure increased 0.5 of a percentage point, underpinned by continued expenditure in health, aged care and disability services.
Net exports contributed 0.3 percentage points to the GDP in the September quarter, driven by a fall in imports of 1.5 per cent.
Compensation of employees which records total wages and salaries across the economy, rose by 1 per cent in the quarter to be 4.3 per cent higher through the year.
The unemployment rate fell to 5 per cent.
The increase in wages was consistent with strong employment growth as reported in the latest ABS Labour Force data, as well as a lift in wage rates.” Bruce Hockman ABS chief economist said.
The International Monetary Fund and the OECD have recently praised the country’s economy and Australia’s AAA rating.
