South Africa consumers reluctant to take brake off spending

By Nizar Manek, 15 May 2013
(Financial Times) -- 
South Africa’s consumers are reluctant to take the brake off spending even though inflation is at a four-decade low, according to retail trade sales data released on Wednesday by government agency Statistics South Africa. Retail sales growth softened to 2.8 per cent year-on-year in March from a revised 3.9 per cent in February. Despite the fall, consumption remains robust and was stronger than the 2.4 per cent consensus in a Bloomberg survey of 16 economists.
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