AUSTRALIA'S economy is performing slightly better than expected, with a small pick-up in retail sales in July and strong growth in business investment plans for capital expenditure.
That was above economists' forecasts of an 0.3 per cent rise.
More significantly, new private capital expenditure rose 4.9 per cent in real terms, seasonally adjusted, in the June quarter, the ABS said.
The median market forecast was for a rise of 4.0 per cent in the June quarter.
RBC Capital Markets senior economist Su-Lin Ong said both releases had surprised to the upside....
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