For the first time in five years, consumer spending in January grew at the same pace as during the festive season, signifying economic recovery.This is according to the Mastercard SpendingPulse report, released on Thursday. The report, which provides a macroeconomic analysis of retail spending trends in SA, showed that consumers started 2018 on a stronger footing amid a downward trend in the inflation rate.Consumer spending in January climbed 3.8% year on year, after accounting for the effects of inflation.This is the same pace of growth the retail industry saw during the December peak season, which was also the strongest monthly performance since May 2013.When the effects of inflation are included, retail sales for January 2018 grew 7.3% year on year."January retail sales show an improvement in consumer discretionary spending, with South Africans benefiting from a moderation in inflation, a stronger rand and some recovery in industries such as agriculture, as production recovers fr...
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