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‘Consumers still face tough times ahead’

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Economists say although retail trade sales showed a slight improvement, consumers still face tough times ahead.

Statistics South Africa reported that retail trade sales increasing by 1.3% in July 2018, from a 1.1% slowdown in June 2018.

Economist at NKC Economists, Elize Kruger says significant contributions came from retailers in household furniture, appliances, and equipment – among others.

“There are many headwinds for consumers still at this point in time.  Although the figure was in line with expectations we do foresee that the sector will remain under strain, thinking about high fuel prices rising inflation.  Generally an economy in recession is not good for consumers.  So although the number is good and we expected this number it’s still quite low.”

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