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Financial News: South Africa Retail Sales Decline Slows Sharply In

South Africa Retail Sales Decline Slows Sharply In June

08/12/2020 - 07:47:00 (RTTNews)

(RTTNews) - South Africa's retail sales decreased for the third month in a row in June, though at a softer pace, data from Statistics South Africa showed on Wednesday.

Retail sales fell 7.5 percent year-on-year in June, following an 11.9 percent decrease in May.

The Covid-19 pandemic and lockdown restrictions since March 27 had an extensive impact on the economic activity, the agency said.

The biggest negative contribution came from the all 'other' retailers, retailers in food, beverages and tobacco in specialized stores, and retailers in textiles, clothing, footwear and leather goods.

On a month-on-month basis, retail sales rose 6.4 percent in June, after a 68.7 percent growth in the previous month.

In the three months ended in June, retail sales decreased 23.5 percent, following a 20.0 percent fall in the preceding three months.

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