South African retail sales slow amid higher inflation, interest rates
* Inflation, rising rates pushing consumers to buy small * Retail slows, increasing chances of recession * Consumers turning to unsecured debt to fund living expenses (Recasts with focus on consumer spending) By Mfuneko Toyana JOHANNESBURG, March 16 South Africa’s retail sales expanded at a slower rate in January, data showed on Wednesday, as yet […]
Rand tanks amid Gordhan job fears
The rand broke through a psychological level of R16 versus the dollar in morning trade on Wednesday (16 March) amid concerns that Pravin Gordhan’s job may be in jeopardy. At 10h10, the rand traded at R16.11 – down 1.25%, having lost 3% on Tuesday against the dollar. It traded at R22.68 versus the pound (down […]
VSA markeer pas met rentekoerse
Suid-Afrikaners, veral diegene met huisverbande, sal Donderdagmiddag weet of hulle meer vir hul skuld moet opdok as die Reserwebank die rentekoers sou verhoog. Intussen haal wêreldmarkte weer asem nadat die Federale Reserweraad (Fed) in Amerika besluit het om Amerikaanse rentekoerse vir eers onveranderd te hou. Die agterdeur bly egter oop vir ’n verhoging later vanjaar. […]
January retail sales slowed by inflation
South Africa’s retail sales expanded at a slower rate in January, data showed on Wednesday, as yet another sector of the weakening economy succumbed to rising inflation and higher lending rates. Figures showed sales of household furniture and appliances slowed sharply, growing 2.6% year-on-year in January against 6% in the previous month, while sales of […]