Australia experiences bigger-than-expected gain in retail sales amid low interest rate

Source: Bloomberg
Retail sales were anticipated to grow 0.3%, yet the index advanced 0.4% in August compared to 0.1% gain in July as low interest rate bolster consumer spending. Consumer confidence index advanced 4.7% signaling that households are more confident regarding country's economy, which is buoyed by 6.4% increase in department store sales after 7.9% fall in July.  

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