South Africa Consumer & Retail Q4 2020
Relaxation of lockdowns and movement restrictions, travel recommencing, non-essential retail and hospitality re-opening and the launch of government stimulus packages, are all being taken into account in our forecasts for the SouthAfrica consumer spending outlook in the short-to-medium term (2020-2024). The spread of Covid-19 globally will have a negativeimpact on South Africa’s consumer spending in 2020, with real household spending forecast to contract by -6.4% y-o-y. In 2021 weproject real household spending growth of 2.1% y-o-y.
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