Retail gross sales in South Africa proceed downward pattern

In accordance with figures launched this Wednesday by Statistics South Africa, retail gross sales within the nation fell 0.8% 12 months on 12 months in January after falling by a revised 0.5% in December.

On a month-on-month foundation, gross sales elevated 1.5%.

The numbers are related as they provide an perception into shopper demand in Africa’s most industrialised economic system

Gross sales within the three months to the top of January had been down 0.2% in contrast with the identical interval final 12 months, the statistics company mentioned

South Africa’s financial development outlook is bleak this 12 months, with crippling energy cuts seen hurting companies of all sizes and maintaining inflation excessive.