South Africa’s retail sales continued to decline in October, data from Statistics South Africa showed on Wednesday.
Retail sales fell 1.6 percent year-on-year in October, following a 2.4 percent decrease in September. Economists had forecast a 2.7 percent decline.
The biggest negative contribution came from the all ‘other’ retailers, and retailers in pharmaceuticals and medical goods, cosmetics and toiletries.
On a month-on-month basis, retail sales fell 0.2 percent in October, after a 1.0 percent rise in the previous month.
In the three months ended in October, retail sales increased 7.1 percent, after a 24.1 percent rise in the preceding three months.
The material has been provided by InstaForex Company – www.instaforex.com