Retail sales beat expectations in February
Consumers spent more than expected in the second month of the year, with retail sales up 1.1% compared with the same period in 2018
SA shoppers spent more than expected in February, with retail sales growing 1.1% year on year, led by expenditure in the textiles, footwear and clothing sector. Although the much better-than-expected print is an optimistic sign for SA’s struggling economy, Statistics SA said on Wednesday that seasonally adjusted retail sales decreased by 1.8% in the three months to end-February, compared with the previous three months. December had registered a surprise 5.2% month-on-month decline.
PODCAST: South African consumers are going through the most.