South Africa Retail Sales Fall For Second Month
South Africa’s retail sales decreased for the second straight month in May, though at a softer pace, data from Statistics South Africa showed on Wednesday.
Retail sales fell 12.0 percent year-on-year in May, following a 50.4 percent decrease in April.
The biggest negative contribution came from the all ‘other’ retailers, retailers in household furniture, appliances and equipment, and retailers in food, beverages and tobacco in specialized stores.
On a month-on-month basis, retail sales jumped 74.2 percent in May, after a 50.7 percent fall in the previous month.
In the three months ended in May, retail sales decreased 18.9 percent, following an 18.1 percent fall in the preceding three months.