Paul Bloxham: HSBC chief economist on Australia's retail sales rebounding after winter downturn
Australian retail sales rebounded by more than expected in August as warmer weather brought forward spring spending after a midwinter slump.
According to the Australian Bureau of Statistics, retail sales rose 0.7 percent - beating out initial predictions of 0.4 percent.
HSBC chief economist Paul Bloxham says it's clear recent tax cuts have driven up consumer spending.
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