CHRIS GILMOUR: Retail sales and consumer confidence losing steam
Few categories show any positive growth
19 July 2022 - 10:36
There are incipient signs that retail sales growth and consumer confidence in SA are faltering. This is serious, as consumer spending accounts for over 60% of GDP.
Retail sales growth figures from Stats SA for May 2022 were released recently and few retail categories showed any positive growth in overall sales growth that averaged 0.1% year on year. Additionally, the consumer confidence indicator from FNB/BER for the second quarter of 2022 was also released recently and reveals consumer confidence at near record lows over the past 40 years. ..
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