WATCH: What retail sales herald for growth
SA’s retail sales growth has outpaced analyst expectations by accelerating for the second consecutive month in March coming in at 4.8% year on year from a revised 4.2% in February.
On a month-on-month basis, however, sales were flat. The main contributors to the 4.8% increase were retailers in textiles, clothing, footwear and household furniture.
Meanwhile, Statistics SA expects retail to contribute a 1.3% decline to the country’s first-quarter GDP.
Econometrix chief economist Azar Jammine spoke to Business Day TV about what the numbers and what they say about the economy.
Econometrix chief economist Azar Jammine talks to Business Day TV about what the numbers and what they say about the economy
OR LISTEN TO THE AUDIO: