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This is the total of what consumers spend on goods and services for their personal use. It makes up about 60% of gross domestic product (GDP) in South Africa. It generally rises consistently quarter by quarter because of inflation. In the March quarter of 2020, consumer spending in South Africa was R1969884m - which was 1,79% higher than in the December quarter of 2019. In the March 2020 quarter total GDP fell by 2% in real terms. Consumer spending is obviously impacted by the level of unemployment which is at record levels in South Africa. The impact of COVID-19 on consumer spending is likely to be substantial and a major factor in the Treasury's expected 7,2% decline in GDP during 2020. The level of consumer spending obviously impacts on retail shares more than others.

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