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.

LISTEN ABOVE

See omnystudio.com/listener for privacy information.

Construction continues to slow, although consents for office and public transport buildings have risen 26 percent.

Stats NZ says new home consents dropped 20 percent in the year to August - and standalone new builds fell 9.7 percent.

Consents for townhouses, apartments, retirement village units, and flats are down 27 percent.

Infometrics Principal Economist Brad Olsen unpacks the factors behind the decline.

LISTEN ABOVE

See omnystudio.com/listener for privacy information.

Another Global Dairy Trade auction is expected to take place tonight - and experts are predicting more good news this time round.

There was a substantial life off the back of the previous auction - with a 0.8 percent increase across the board.

The Country's Jamie Mackay outlined his predictions ahead of tonight's results.

LISTEN ABOVE

See omnystudio.com/listener for privacy information.