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Financial News: South Africa Retail Sales Fall Further

South Africa Retail Sales Fall Further

02/17/2021 - 06:33:00 (RTTNews)

(RTTNews) - South Africa's retail sales declined further in December, data from Statistics South Africa showed on Wednesday.

Retail sales fell 1.3 percent year-on-year in December, following a 4.3 percent decrease in November. Economists had forecast a 3.5 percent decline.

The biggest negative contribution came from all 'other' retailers.

On a month-on-month basis, retail sales fell 0.8 percent in December, after a 2.1 percent rise in the previous month.

In the three months ended in December, retail sales increased 2.8 percent, after a 4.4 percent rise in the preceding three months.

In 2020, retail sales declined 6.9 percent.

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