The Economy Retailers specialising in selling stuff
Retail trade sales numbers for November were out last week, and not a bad little haul, all things considered – up +2.6%, their biggest jump since the heady days of April 2019 when they leapt +2.7% year-on-year. Retailers in food, beverages and tobacco in specialised stores, general dealers and retailers in household furniture, appliances and equipment, textiles, clothing, footwear and leather goods recorded the largest annual growth rates, according to the hoary sages over at StatsSA, who have suggested that Black Friday played a role in this jamboree of spending. On the downside, retailers specialising in pharmaceuticals, medical goods and cosmetics saw sales drop by -1.9%. Another bit of good news is that the dear old Reserve Bank has done the decent thing and dropped the repo rate by 25 basis points, suggesting that another cut may come in the fourth quarter, and providing a modicum of relief to the indebted, those who wish to lend money or extend credit for goods and services, and those seeking to buy homes.
Comment: We’ll take any positive indicators we can get at this point.