Consumer Research Africa

Consumer Watch – May 2021

Vehicle sales dropped -17.6% m-m in April 2021 to 35 779 units. Food and beverage sales grew by 4.5% y-y in March 2021, off a low prior year base. We expect any recovery of food and beverage sales to be tested by renewed concerns of a third wave of COVID-19 infections. The rand continued to strengthen against the USD and ended May at R13.74/USD (+27.7% y-y). The ABSA PMI shed -1.2 points to 56.2 points in April, following its 4.4 point improvement in March. The value of residential buildings approved, fell -10.3% y-y in March. Private sector credit extensions continued to decline in April 2021, falling -1.8% y-y after decreasing by -1.5% y-y in March. Motorists can expect a price adjustment of -11c/litre to R16.42 for petrol, although the diesel price will increase by 22c/litre to R14.09 in June 2021.