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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH AFRICA
MNI (London)
SOUTH AFRICA AUG RETAIL SALES -1.8% M/M (FCST +0.4%); JUL -0.1% M/M
SOUTH AFRICA AUG RETAIL SALES +2.0% Y/Y (FCST +4.9%); JUL +8.9%r Y/Y
- The anticipated boost from base effects of 2019 riots did little to support South African retail sales in August. Retail trade was worse than expected, contracting by -1.8% m/m in the fourth consecutive month of decline (vs +0.4% m/m).
- Sales saw a modest +2.0% y/y expansion, more in line with normalisation following the strong +8.9% y/y July reading.
- Both substantial load-shedding concerns and high inflation seeing only minor relief at +7.5% y/y in the September data have consumers winding down spending. Q3 consumer sentiment remained extremely depressed in the FNB/BER survey, implying little improvement in the upcoming months.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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