Retail Revival is Still Some Way Off

Posted to the web 13 October 2008 Loyiso Sibali Johannesburg AUGUST retail sales figures are expected to show the sector remains deeply in the negative, and building-approval statistics are set to continue highlighting the weakness in residential investment. These are the main figures to be released this week, and they are due out on Wednesday. Retail figures are expected to be still in negative territory, although the most recent statistics point to a marginal recovery. The First National Bank/Bureau for Economic Research consumer confidence index released last week indicated a measure of recovery in the third quarter, rising five index points to -1. Economists expect that to lead to marginal recovery in the retail figures expected this week. Retail-sector performance has been affected negatively with the economy slowed by... [read full story]