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1.Market Observations, 8.Was Sticky

4 Sept 2019 (TheAge) – ‘Precisely what you’d expect in an economic downturn’: Retail sales tumble despite tax cuts

(4 September, the Age, By Shane Wright and Eryk Bagshaw)

‘The Morrison government’s income tax cuts and lower interest rates have not been enough to get shoppers into the nation’s malls, with retail sales falling and damaging expectations of a post-election confidence boost. The Australian Bureau of Statistics on Tuesday reported retail sales in July, which analysts and the government had expected to see lift on the back of tax cuts that started flowing into bank accounts from mid-July, fell 0.1 per cent.’


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