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Retail sales in South Africa fell by 0.8% year on year in January after trailing by a revised 0.5% in December, according to figures released by Statistics South Africa, recently. On a month-on-month basis, sales increased by 1.5%
Retail sales in South Africa fell by 0.8% year on year in January after trailing by a revised 0.5% in December, according to figures released by Statistics South Africa, recently. On a month-on-month basis, sales increased by 1.5%.
The numbers are relevant as they offer an insight into consumer demand in Africa’s most industrialised economy. Sales in the three months to the end of January were down by 0.2% compared with the same period last year, the statistics agency said.
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South Africa’s economic growth outlook is bleak this year, with crippling power cuts seen hurting businesses of all sizes and keeping inflation high.
