Retail sales decline less than expected in February
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GUEST – Siphamandla Mkhwanazi, FNB Senior Economist
Retail sales volumes for February declined by 0.5% y/y, marking a third consecutive month of annual decline. Retail sales continued to decline in February, signalling that consumers’ disposable income remains under strain from high inflation and interest rates, even though the contraction was less than market expectations.
Retail sales volumes for February declined by 0.5% y/y, marking a third consecutive month of annual decline. Retail sales continued to decline in February, signalling that consumers’ disposable income remains under strain from high inflation and interest rates, even though the contraction was less than market expectations.
