RE­TAIL CON­FI­DENCE DROPS

Finweek English Edition - - THE WEEK -

Sen­ti­ment among South African re­tail­ers has plunged to a 15-year low in the sec­ond quar­ter of the year, with high in­ter­est rates con­tribut­ing to a de­cline in credit ex­ten­sions, Busi­ness Day re­ported. The per­cent­age of re­tail­ers that re­ported sat­is­fac­tion with pre­vail­ing busi­ness con­di­tions fell to 26%, down from 44% in the first quar­ter and the low­est since 2001, ac­cord­ing to the lat­est EY/BER Re­tail Sur­vey. ETM An­a­lyt­ics said the dwin­dling prospects in the re­tail sec­tor, cou­pled with the lack of growth in other in­dus­tries, could stay the Re­serve Bank’s hand in de­cid­ing whether to tighten mon­e­tary pol­icy fur­ther when it meets next in July, the news­pa­per said.

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