Leathergoods a major contributor to SA sales growth
17/08/2012
Retail trade sales increased by 8.3% in June, beating market
expectation of just 4.7% growth.
According to Statistics South Africa, leathergoods, textiles,
clothing and footwear sales rose 16.4%.
Economists at local bank Nedbank said: "Our
expectation is thus for consumer spending to lose momentum in the months ahead.
Our forecast for household consumption expenditure growth for 2012 is 3.5%.
"The MPC's next move will depend on whether the
combined global monetary stimulus sparks some recovery later in the year, in
which case rates will remain stable, or whether the global economy slips into
recession."
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