• News
  • Sport
  • TV
  • Radio
  • Education
  • TV Licences
  • Contact Us
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • FEATURES
  • OPINION
No Result
View All Result
1
Home Business

Weak retail sales numbers expected

11 June 2019, 10:04 PM  |
Naledi Ngcobo Naledi Ngcobo |  @SABCNews
Shoppers

ABSA Economist Miyelani Maluleke has predicted weaker retail sales numbers.

Shoppers

Image: SABC News

ABSA Economist Miyelani Maluleke has predicted weaker retail sales numbers.

Analysts expect to see a weak retail sales numbers as Statistics South Africa prepares to release the April retail trade sales figures on Wednesday. The number comes in the wake of a 3.2% contraction in economic growth in the first quarter of the year, coupled with a sharp decline in household consumption in the same period.

Analysts say the low growth environment and the high unemployment rate will keep retail stats muted for the most part of the year.

Economist at ABSA, Miyelani Maluleke says the petrol price increase in the month reduced consumer’s disposable income.

“I think the broader underlying story is that consumers are still under a lot of pressure… you certainly see that when you look at the BER consumer confidence index.  The other thing that we saw at the start of April is that big increase in fuel prices which we think could have dented consumers’ disposable income.  So we are expecting the number to only improve marginally to about 2 % year-on-year.”

Share article
Tags: PetrolRetailMiyelani Maluleke
Previous Post

UWC Physics student published in leading scientific journal

Next Post

No confirmed reports of swine flu outbreak in Gauteng

Related Posts

Labourers work at the site of an under construction flyover in Kolkata, India, February 1, 2022.

Delegates hear that infrastructure deficit across BRICS countries is significant

28 September 2023, 7:22 PM
US dollar banknotes are seen in this illustration taken March 10, 2023.

Dollar eases from 10-month high but on track for weekly gain

28 September 2023, 5:30 PM
Employment application form

Employment data worrisome: Economists

28 September 2023, 3:13 PM
The workers say they were first notified about the termination of the employment after the announcement of the initial lockdown. However Daven Lottering Construction says they were only contracted until the end of March and their termination is unrelated to COVID-19.

Sanral defends international outsourcing for large-scale projects

28 September 2023, 8:38 AM
Nersa has approved Eskom to recover the R13 billion through tariff adjustments.

Eskom confident in electricity system ahead of summer

28 September 2023, 6:16 AM
[FILE IMAGE] Cars are overturned at Johannesburg CBD due to an explosion.

Local govt’s inability to enforce by-laws blamed for decay of SA cities

27 September 2023, 9:25 PM
Next Post
Injection

No confirmed reports of swine flu outbreak in Gauteng

Most Viewed

  • 24hrs
  • Week
  • Month
  • Visitors planning to visit the Overberg region urged to postpone their trips
  • Six beaches in Durban flagged with high levels of E.coli
  • Western Cape on high alert following severe storm warning
  • Steam trains revived in the Western Cape amid Heritage Day celebrations
  • A level two weather warning issued for southern KZN
  • High waves and rough water conditions force beach closures in the Western Cape
  • Prince Mangosuthu Buthelezi to rest in the town he built and nurtured
  • NSPCA files criminal case against Julius Malema for alleged animal cruelty
  • Snow, heavy rainfall expected in parts of KZN: SAWS
  • Cold-front sweeps across SA bringing snow and chilly temperatures
  • Western Cape extreme weather expected to shift to KZN
  • Pirates need 2 goal win to advance to CAF group stages
  • Western Cape EFF plans shutdown over impounded taxis
  • Avian Flu detected at five poultry farms in Limpopo
  • EFF threatens to render City of Tshwane ungovernable

LATEST

Zoleka Mandela.
  • South Africa

Zoleka Mandela to be buried at the Fourways Memorial Park


[File Image]: Graphic depiction of crime scene
  • South Africa

Murders in the last decade almost 200 000: Cele


Former Deputy Minister of Foreign Affairs Aziz Pahad.
  • Politics

‘Parliament will continue drawing from lessons imparted by Aziz Pahad’


A Green Sea turtle swims over a reef on the North Shore of Oahu, Hawaii, in this file photo taken March 20, 2013.
  • World

DNA remnants found in fossil of 6 million year old turtle


Labourers work at the site of an under construction flyover in Kolkata, India, February 1, 2022.
  • Business

Delegates hear that infrastructure deficit across BRICS countries is significant


DRC President, Felix Tshisekedi.
  • Africa

DRC govt urged to ensure democratic spaces are protected in run-up to December election


Weather

  • About the SABC
  • Contact Us
  • Jobs
  • Advertise
  • Disclaimer
  • Site Map

SABC © 2023

No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • FEATURES
  • OPINION

© 2023

Previous UWC Physics student published in leading scientific journal
Next Injection No confirmed reports of swine flu outbreak in Gauteng