Retail industry takes sharp decline

2008-05-14 00:00

The average consumer’s appetite for goods and services diminished even further in March 2008, with retail trade sales dropping 1,7% year on year, the first annual negative growth rate reported for the year and the indicator’s sharpest decline in more than seven years.

"Weakness was especially evident in the sub-category for household furniture, appliances and equipment (-11,9% year on year), indicating that consumers are scaling down their demand for luxury type items, a positive development as far as the visible effect of the interest rate increases are concerned," noted Efficient economist Fanie Joubert. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

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