S.Africa consumer spending pressures could ease in second half -analysts [Reuters]
NEDBANK GROUP LTD S/ADR (NDBKY)
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Source: Reuters
but analysts believe consumer spending pressures should ease from the second half of the year when interest rates start to come down. Wider industry data had showed lacklustre sales over November , fuelling concerns that demand might have weakened into the 2023 festive season, with some of the country's biggest names in retail reporting in the last two weeks slower sales growth in the Christmas quarter. However, December sales growth of Woolworths (WHLJ.J) , opens new tab , TFG (TFGJ.J) , opens new tab , and Mr Price (MRPJ.J) , opens new tab accelerated, with the latter reporting a 15.5% growth in group retail sales in that month vs 9.9% in the quarter ended Dec. 30. Households are spending less, especially on clothes , upmarket fashion retailer Woolworths said last month, and on furniture, appliances and electronics, as high interest rates and inflation reduce disposable income. Retailers have been cautious about giving up too much margin, with discounts offered to lure holid
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