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. OR LISTEN TO THE AUDIO:
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