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Financial News: South Africa Retail Sales Rise For Second Month

South Africa Retail Sales Rise For Second Month In February

05/20/2020 - 08:28:00 (RTTNews)

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

Retail sales rose 2.0 percent year-on-year in February, following a 1.3 percent increase in January. Sales decreased 0.5 percent in December.

The largest positive contribution came from all 'other' retailers, retailers in household furniture, appliances and equipment, and retailers in textiles, clothing, footwear and leather goods.

On a month-on-month basis, retail sales decreased 0.4 percent in February, after a 0.5 percent rise in the previous month.

In the three months ended in February, retail sales decreased 1.1 percent, after a 0.6 percent rise in the preceding three months.

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