DStv Channel 403 Sunday, 19 January 2025

Holiday spending expands retail sales in March

JOHANNESBURG - Holiday-related consumer shopping activity likely boosted March's retail sales.

That's the word from FNB senior economist Siphamandla Mkhwanazi.

Retail sales expanded by 2.3-percent in March from a decline of 0.7 percent in the previous month.

StatsSA released the latest numbers on Wednesday and the outcome was ahead of market expectations.

General dealers largely drove the better-than-expected numbers, with the biggest declines seen in the hardware and pharmaceuticals sectors.

Mkhwanazi says there are glimmers of hope with a slowdown in inflation, but consumer confidence remains low.

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