By Lelethu Mquqo
15 June 2011
Retailers’ business confidence levels declined notably during the second quarter of the year.
This is evident in the latest Ernst & Young / Bureau for Economic Research survey.
The percentage of retailers reporting that they are satisfied with prevailing business conditions dropped from 58 to 47 during the period, after peaking at a three year high of 63 during the last quarter of last year.
Because consumer demand has declined, most retailers have been unable to increase their selling prices.
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