Retail sales suffer as households cut spending
Fourth consecutive monthly decline is the biggest since June 2022, highlighting the prevailing economic malaise
17 May 2023 - 15:26
UPDATED 17 May 2023 - 19:05
Retail sales fell for a fourth straight month in March, further signifying the impact of high interest rates, inflation and declining consumer confidence on the economy.
After consumers demonstrated resilience throughout 2022, the cumulative 425 basis point rate hikes by the SA Reserve Bank since November 2021 have begun to bite...
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