#BlackFriday won’t make any difference in the SA economy

Johannesburg – According to a South African expert, with all the economic problems facing South Africa, including all the job losses, it is very unlikely that BlackFriday sales will make a positive contribution to the economy.
 Argon Asset Management’s economic strategist Thabi Leoka shared the expectations from this year’s sales on Tuesday.
“Retail sales is not the driver of economic growth,” said Leoka.
Leoka also went on to say the only sign showing that the economy is picking up will depend on the Black Friday sales.
Leoka also said that locally, this year’s frenzy will be big as big as in the United States. “Given what is going on in the economy, we do not expect it to be well received or as big as it was in the previous year.”
“The problem, however, is that many people use the sale day to buy Christmas goods, which detracts from some of the typical December buying period.”
Jason Muscat a FNB senior economic analyst, said for the past 3 years Black Friday sales have impacted positively.
“The problem, however, is that many people use the sale day to buy Christmas goods, which detracts from some of the typical December buying period,” said Muscat.

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