Disappointing retail sales flat in September

Annual retail sales were flat in September, coming in well below economists expectations.

Stats SA announced on Wednesday that in real terms retail trade sales increased by 0.2% year-on-year in September 2019. 

Ahead of the announcement, Investec and NKC African Economics said they were expecting a rise of 1.9% in September. 

While sales in the textiles, clothing, footwear and leather goods sector grew by 3% over the past year, general dealers sales – a category that accounts for almost half of all sales –  fell by 0.7%.

Sales were up 0,5% in September 2019 compared with August 2019.

#SouthAfrica Retail Sales year-on-year at 0.2% https://t.co/S7Zsrt0rzH pic.twitter.com/qMGiFafxWX

— Trading Economics (@tEconomics) November 13, 2019

- Compiled by Jan Cronje