Power cuts and rising costs put a damper on spending over festive season
SA’s retail trade shrank in December, coming in worse than market forecasts, as retailers and households across the country dealt with recurrent power cuts, rising costs and elevated prices.
Stats SA data released on Wednesday shows that retail trade shrank 0.6% on an annual basis, after an upwardly revised 0.8% rise in the previous month and worse-than-market forecasts of economists surveyed by Reuters of a 0.1% fall. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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