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CONSUMER CREDIT RATING UP AND RETAIL CONFIDENCE HOLDS ITS OWN

Amid global reports of renewed recessionary turmoil, a glimmer of optimism has come through with statistics that indicate an improvement in consumer credit rating pointing to an increase in credit activity.  As at the end of June 2011, credit bureaus under the National Credit Regulator (NCR) had records for 18.84 million credit active consumers, an increase of 1.3% over the 18.60 million of the previous quarter.  Consumers classified in good standing increased by 69 000 – with the number of accounts increasing from 63.05 million in the previous quarter to 65.00 million, an increase of 3.1%.   On the retail front the percentage of retailers reporting that they are satisfied with prevailing business conditions increased by only one point to 48 during the 2011 Q3, after slumping from 58 to 47 during 2011 Q2 – this despite the results from the latest Bureau for Economic Research (BER)/Ernst & Young Retail survey that suggest that retail sales growth remained solid during the 3rd quarter of 2011 and that the overall profitability of retailers improved.  Digging down to specifics, retailers in semi-durable goods (e.g. textiles, clothing & footwear) saw the highest volume growth, even higher compared to the impressive volumes recorded during the 2010 Soccer World Cup months.  Retailers in non-durable goods (e.g. food, beverages, tobacco, cosmetics and pharmaceuticals) also reported higher sales volumes compared to 2010 Q3.  In the durable goods category, sales of furniture and household appliances remained strong but hardware, paint and glass sales contracted.

 

 
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CLEM SUNTER PUSHES FOR ENTREPRENEURIAL GROWTH
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CONSUMER CREDIT RATING UP AND RETAIL CONFIDENCE HOLDS ITS OWN
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TAX ADMINISTRATION BILL (TAB) TIGHTENS UP TAX PROVISIONS
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FASA ANSWERS YOUR QUESTIONS AROUND THE CPA
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THINKING OF BUYING A FRANCHISE? FASA OFFERS TRAINING COURSES
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FASA LIFESTYLE ANNOUNCES ITS PARTNERSHIP WITH UR LOCATA AND INDEPENDENT NEWSPAPERS
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Fasa Events
FASA ONE DAY TRAINING COURSE FOR POTENTIAL FRANCHISEES

Date: 20th October 2011
Venue : FASA Office, Bruma (Venue subject to change pending delegate bookings)

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