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Stats SA to reveal September retail sales figures

Nedbank economist Johannes Khoza says retail sales growth will show a dip in September but should still make a positive contribution to third quarter GDP.

Picture: Pexels

JOHANNESBURG - September retail sales figures will indicate on Wednesday whether the economy has emerged from a technical recession.

Statistics South Africa is set to release the figures on Wednesday afternoon.

August sales rose to 2.5% up from 1.4% in July.

Nedbank economist Johannes Khoza says retail sales growth will show a dip in September but should still make a positive contribution to third quarter GDP.

“The three months, up to September, we expect growth in the retail to have pushed at a general consumer spending number.”

Consumers have had to cut back on buying big-ticket items like cars and houses due to the general increase in the cost of living, and job losses.

The economy shrank by 0.7% in the second quarter, following a 2.6% contraction in the first quarter.

This pushed the country into a recession for the first time in almost a decade.

(Edited by Zamangwane Shange)