Sales News South Africa

Black Friday fails to lift November retail trade, sales fall 0.9% year on year

South African retail trade sales faltered in November, highlighting the strain that consumers remain under and raising the odds that the economy tipped into a recession in the fourth quarter (Q4) of last year. Congestion at the ports also put a damper on things as stuff that consumers wanted was left floating on the sea.
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Image by Steve Buissinne from Pixabay

The data also showed that in the three months to the end of November, sales were down 0.5% compared to the previous three months.

If that trend continues, retail trade will be a drag on the fourth quarter gross domestic product read, raising the odds that the economy tipped into a recession after contracting 0.2% in the third quarter.

Read the full article by Ed Stoddard at Daily Maverick.

Source: Daily Maverick

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