CHRIS GILMOUR: Retail sales gloom set to persist amid tight credit conditions
Banks and credit-orientated retailers are unlikely to extend further loans for fear of incurring bad debt
23 August 2022 - 13:02
Retail sales figures from Stats SA are a lagging indicator of how the economy is performing, albeit by only a few weeks. So, for example, the June 2022 data was released on August 17, six-and-a-half weeks later.
But that lag is enough to miss critical economic events, such as the 75 basis-points increase in the repo rate announced by the Reserve Bank’s Monetary Policy Committee on July 21. ..
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