Retail confidence at 6-year high, as consumers start shopping again
Retail confidence is at a six-year high
Despite positive indicators, GDP won’t reach pre-pandemic levels “any time soon”
Without structural reforms, the current lift won’t be sustained
Retailers feel more confident about the economy than at any time in the past six years, according to the Bureau for Economic Research (BER).
Consumers are spending again, buoyed by record-low interest rates.
The Money Show’s Bruce Whitfield interviewed BER economist Tshepo Moloi (scroll up to listen).
A lot of the figures we see, come off a very low base… Confidence of retailers is off the back of a very low base…Tshepo Moloi, economist - Bureau for Economic Research
The stock market has been trending upwards…Tshepo Moloi, economist - Bureau for Economic Research
South Africa will not be at pre-pandemic levels any time soon… We entered the pandemic in a recession…Tshepo Moloi, economist - Bureau for Economic Research
In the absence of reforms, the future looks bleak for the South African economy… We don’t have fiscal room to manoeuvre…Tshepo Moloi, economist - Bureau for Economic Research
This article first appeared on CapeTalk : Retail confidence at 6-year high, as consumers start shopping again
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