South Africa Consumer & Retail Q4 2018
Tepid growth in the economy, combined with high unemployment and weak credit growth will continue to constrain ourconsumer outlook in 2018. While consumer confidence has improved significantly to all-time highs, this isn't translating into higherretail sales amid high levels of economic uncertainty. This outlook will improve going into 2019 as economic growth picks up butthese risk factors will ensure that consumption underperforms its potential.
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