Financial News: South Africa Retail Sales Fall 0.8%

South Africa Retail Sales Fall 0.8%

04/17/2024 - 07:22:00 (RTTNews)

(RTTNews) - South Africa's retail sales declined for the second straight month in February, data from Statistics South Africa showed on Wednesday.

On an unadjusted basis, retail sales fell 0.8 percent year-on-year in February, though slower than the 2.0 percent decrease in the prior month.

Sales of textiles, clothing, footwear, and leather goods decreased the most by 6.8 percent annually in February. Sales of hardware, paint, and glass were 2.2 percent lower.

Data showed that sales demand for household furniture, appliances, and equipment was 3.6 percent higher compared to last year.

On a monthly basis, retail sales rebounded 0.4 percent in February versus a 3.2 percent drop in the prior month.

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