JOHANNESBURG – A study by the Bureau of Economic Research (BER) has shown that the retail sector showed signs of a revival in the last three months of the year after the sector ran into trouble in the third quarter of the year. The BER said sentiment in the sector was improving. BER said business confidence among retailers improved somewhat following the significant deterioration recorded in the third quarter of 2018.
“Confidence was supported by higher sales volumes and a slight improvement in overall profitability. However, trading conditions remain tough with no meaningful pick-up expected over the festive season,” BER said.
The battered consumer confidence in South Africa has underwhelmed the retail sector and other consumer services sectors as the economy blew hot and cold this year.