Lower than expected retail trade sales

Retail trade sales, measured in real terms increased by 1,9% year-on-year in April, compared to the 2,7% growth in March and 3,9% in February, Statistics South Africa reported.

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This was lower than expected by most economists. On a month-to-month basis, seasonally adjusted retail trade sales contracted by 0,6%. Retailers in textiles, clothing, footwear and leather goods recorded growth of 5,2%. Retailers categorised as ‘other’ showed growth of 12,3%. April’s retail trade sales came to R53,08 billion rand, compared to the R54,6 billion rand in March.