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Johannesburg - A rising positive trend in consumer
spending is present, according to the Spark Cash Index released by Spark
ATM Systems on Thursday.
The average cash withdrawal value across SA for August was R406, 3.05% down on July's average withdrawal of R418, the third-highest ever recorded by the Spark Cash Index (SCI).
"This dip in August was to be expected", said Marc Sternberg, MD of Spark ATM Systems. "July's strong performance was due to the winter holiday break, and this year there were five full weekends in July, causing a big boost to cash withdrawals.
"With South Africans returning to the routine of work and studies after the July holiday, it was expected that cash withdrawal values would decrease somewhat."
"Consumer positivity is on the increase", said Sternberg. "The SCI has shown this positive trend for most months of this year. It is positive to note that August's value is still one of the highest since the launch of the SCI in 2007."
The report indicated that this year's August value was 1.65% up on the value for August 2010 of R399. This was consistent with the general positive trend that the Index was showing, with most months in 2011 up on the corresponding month in 2010.
Stats SA's retail trade sales (RTS) values follow the same pattern as SA cash withdrawal values, according to Spark ATM Systems.
The SCI figures are released two months ahead of the RTS, and act as a good predictor of the trend that the RTS will follow. SA's RTS can therefore be expected to take a sharp dip from July to August this year.
The average cash withdrawal value across SA for August was R406, 3.05% down on July's average withdrawal of R418, the third-highest ever recorded by the Spark Cash Index (SCI).
"This dip in August was to be expected", said Marc Sternberg, MD of Spark ATM Systems. "July's strong performance was due to the winter holiday break, and this year there were five full weekends in July, causing a big boost to cash withdrawals.
"With South Africans returning to the routine of work and studies after the July holiday, it was expected that cash withdrawal values would decrease somewhat."
"Consumer positivity is on the increase", said Sternberg. "The SCI has shown this positive trend for most months of this year. It is positive to note that August's value is still one of the highest since the launch of the SCI in 2007."
The report indicated that this year's August value was 1.65% up on the value for August 2010 of R399. This was consistent with the general positive trend that the Index was showing, with most months in 2011 up on the corresponding month in 2010.
Stats SA's retail trade sales (RTS) values follow the same pattern as SA cash withdrawal values, according to Spark ATM Systems.
The SCI figures are released two months ahead of the RTS, and act as a good predictor of the trend that the RTS will follow. SA's RTS can therefore be expected to take a sharp dip from July to August this year.
