South Africa’s retail sales declined in March, data from Statistics South Africa showed on Wednesday.

Retail sales decreased 2.5 percent year-on-year in March, after a 2.2 percent increase in February. Economists had forecast a 1.9 percent growth.

The largest negative contribution came from all ‘over’ retailers, retailers in pharmaceuticals nd medical goods, cosmetics and toiletries, and general dealers.

On a month-on-month basis, retail sales declined 3.7 percent in March, after a 6.9 percent growth in the previous month.

In the three months ended in March, retail sales increased 1.5 percent, after a 1.7 percent rise in the preceding three months.

The material has been provided by InstaForex Company – www.instaforex.com

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