Shrinking retail sales to hit second-quarter GDP growth
Economists do not expect a meaningful rise in household consumption expenditure, which comprises about two-thirds of GDP
20 July 2023 - 08:00
Retail sales shrank for a sixth consecutive month in May, suggesting SA consumers are having a tough time contending with the high-price environment, compounded by weak economic activity and high unemployment.
This is seen in the retail sales figures released by Stats SA on Wednesday that show retail trade contracted 1.4% from a year earlier, after an upwardly revised 1.8% fall the previous month...
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