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Sacci positive about festive spending

But the chamber warns that its outlook is subject to the performance of the rand.

South African currency. Picture: Taurai Maduna/Eyewitness News

JOHANNESBURG - The South African Chamber of Commerce and Industry (Sacci) said it expects increased volumes of sales this festive season.

But the chamber said spending will depend on the performance of the rand.

Its forecast is based on a recent survey, which looks at the broader trading environment, with a focus on retail trade closer to the festive season.

The local currency recently dropped to its lowest level in nearly four years, reaching R9-level against the United States (US) dollar.

Economists say this could affect the buying power of consumers.

Sacci's Neren Rau said. "If the rand were to weaken, we would then find that those operating in the trade environment have the opportunity to attack opportunities in the global environment more aggressively and this may divert attention from the domestic market."

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