Retail sales impress in Q4 2024, but growth is set to slow

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South African retail sales reflected a phenomenal last quarter of 2024 as consumer spending was boosted by two pot pension withdrawals. Sales in the last quarter increased by 5.4% year-on-year in real terms, indicating spending as if there was a 5% to 6% increase in the economy. These sales numbers will help to boost the economy in 2024, but this still leaves the 2024 GDP outcome at this stage at less than 1% growth. It is likely that retail sales growth will slow appreciably off a high base.
US President Donald Trump signed an array of executive orders aimed at deregulation and freeing up the US economy to perform better. But recently the focus has shifted to imposing tariffs on a wide range of countries, raising concerns of an increase in prices.

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24 Feb English South Africa Investing · Business News

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