Analyses of SA retail sales is all about examining monthly events at the margin. Apart from the huge movements in retail sales growth (and falls) caused by the reactions to various lockdowns in the past few years, most movements have been largely incremental and at first glance apparently boring.

However, most months throw up something of interest; it sometimes just takes a bit more interpretation. April is more interesting than most, as it perhaps signals an end to the dismal reduction in year-on-year growth in hardware, paint & glass, a proxy for home improvement or DIY. ..

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