Retail sales decline softens in August

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Retail sales contracted 4.2% year on year, better than market expectations for a 6.8% decline

The decline in annual retail sales softened in August as the sector clawed its way back from the huge shock experienced during the severest level of lockdown as SA’s economy opened up.

Nevertheless, economists warn that consumers still confront uncertainty about job losses and incomes, which could weigh on recovery in the sector.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

 

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