Fall in real wages hammers November retail sales
Rates increases of 475 basis points since November 2021 have severely dented consumers’ disposable income
17 January 2024 - 15:00
UPDATED 17 January 2024 - 23:05
Retail trade shrank in November in line with market expectations, reflecting the tough economic conditions households are experiencing as a result of high interest rates, weak confidence, and declining real income.
Stats SA data published on Wednesday shows retail trade, a key measure of local consumer health, shrank 0.9% in November 2023 from the previous November. October’s data was revised to a 2.3% fall from a 2.5% contraction initially...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.