Consumers' economic health to go under the microscope

SOUTH AFRICA - In Brief 11 Apr 2014 by Iraj Abedian
Pointers from key sections of the production side of the South African economy (i.e. manufacturing and mining) have indicated a weakening momentum in activity or worse (see our Special Report 11 April 2014). Next week, Statistics South Africa will publish retail sales figures for February 2014 on 16 April 2014. We expect no fireworks. Consumer confidence largely remains low. In addition, the South African Reserve Bank's threats of imminent interest rate hikes will be instrumental in restraining confidence in the coming months. Against this backdrop, next week's retail sales print will paint the emerging picture of the health of the South African economy's demand side for which our pre-diagnosis point to a weak demand landscape.

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