CHRIS GILMOUR: Retail sales point to continuing gloom
Consumers bought less for the fifth straight month in May, the worst run in five years
26 July 2023 - 05:00
Stats SA recently released the retail sales figures for May 2023 and they generally make for dismal reading.
Overall, retail sales fell in constant 2019 terms by 1.4% year on year, after a revised 1.8% drop in April. Every month in the 2023 year to date has seen a drop in retail sales. That hasn’t happened in the past five years and highlights just how tough retailing conditions have become, with a few exceptions...
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