Business confidence in retail sector dips

JOHANNESBURG - Retailers' business confidence has dipped to 34 in the first quarter of 2024, after jumping to 47 during the 2023 festive season.

That is according to the latest retail survey from the Bureau for Economic Research. 

Chief economist Lisette IJssel de Schepper says this is due to stubborn inflation affecting both consumers' ability to spend and operating costs for retailers.