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Retail sales growth accelerated to an annual 10 percent in March as consumer confidence jumped to a record and employment gained.

May 17, 2007Retail sales growth accelerated to an annual 10 percent in March as consumer confidence jumped to a record and employment gained.

Sales growth rose from 8 percent in February, Statistics South Africa said on its website yesterday.

“Interest rates are starting to bite on the durable goods spending” and retail sales growth would probably slow, said Dennis Dykes, chief economist of Nedbank. – Bloomberg