Retail sales starting to show signs of strain

Retail sales starting to show signs of strain

By Siphamandla Mkhwanazi, FNB Senior Economist Consumer spending slowed sharply in 1Q25, with retail sales rising just 1.5% y/y in March, down from 4.1% in February (revised up from 3.9%). This was well below market expectations of a 3.1% increase, signalling that shoppers are becoming more cautious. On a monthly basis, sales volumes dipped by...