Retail sales and business confidence drop due to load-shedding, high interest rates
Long-term trends suggest waning consumer resilience as rate hikes continue to register
14 June 2023 - 14:29
UPDATED 14 June 2023 - 18:31
SA retail trade sales contracted on an annual basis in April, marking the fifth consecutive month of drops and at the quickest pace since June 2022, as the adverse effects of the prolonged power crisis continued to bite.
Data released by Stats SA on Wednesday shows retail trade shrank 1.6% from a year earlier after a downwardly revised 1.5% fall in March and compared with market estimates of a 1.4% decrease...
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