Australian growth will be okay today, by all accounts. Forecasters have the December quarter coming in at 0.7-1.1% supported, largely, by, you guessed it, Albo’s rampant spending.
Despite a significant decline in public infrastructure work (-3.8% qtr), public investment increased 0.9% qtr in Q4.
Strength was centred at the federal level, where federal public corporations’ investment (6.1%qtr) and defence investment (7.1%qtr) both saw strong growth.
