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Article: A not-so-festive season forecast; Slowdown may curtail Christmas spending, top economists warn.(News)
- Article from:
- Cape Argus (South Africa)
- Article date:
- November 14, 2007
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By SIVUYILE MANGXAMBA
Business Writer
A decent rather than a buoyant festive retail period is more likely in the run-up to this Christmas holiday season, as indicators point towards an economic slowdown, say some economists.
They offer a subdued forecast as retail stores gear up for the festive season spending splurge.
"We will have a decent retail sales period but not a buoyant period as last year," said Stellenbosch-based Bureau for Economic Research chief economist Pieter Laubscher.
While consumer confidence was slowing down, Laubscher said in an interview yesterday that strong income earnings were still sustaining ...