Retail Trade Sales Let’s get fiscal (really? - Ed)
Who-ho-ho-ho-hoahh! Easy there, tiger! In what passes for excellent news in these troubled times, retail sales rose a barnstorming +5.4% for the month of September, against economists’ expectations of +4.5%, for a straight sixth month of year-on-year increases and a not too shabby quarterly average of +1.4% in the black. This, say the wild-eyed beard-tuggers who make a living descrying the entrails of the fiscus, shows evidence of something called pent-up demand among South African consumers, who heartened by an easing of inflation and heedless of any downgrades which may be coming our way have taken once more to the aisles. Leading the charge were the textiles, clothing, footwear and (oooh!) leather goods people at +8.6% compared with +1.8% in August, followed by our own glorious sector, the general dealers, a doughty body of men and women in Victorian period getup, up +3.4% in September compared to +2% in August.
Comment: Of course the analysts and economists warn against a bleak Christmas at the registers, but they’ve been wrong as recently as 2 minutes ago, so who knows?