Retail sales up, but quarter showing 'worst since financial crisis'

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
(iStock)
(iStock)

Johannesburg – Retail sales were down 1.1% for the quarter ending in March 2017, Statistics South Africa announced on Wednesday.

Retail sales for March 2017 were up 0.8% for the year, and up 0.3% from February 2017.

The sector performed slightly better than market expectations, said Stefan Salzer, partner and managing director at Boston Consulting Group South Africa. However, this was still below 1% and the impact of the downgrade is expected to weigh heavily on consumers.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.13
+0.0%
Rand - Pound
19.86
+0.0%
Rand - Euro
17.07
-0.1%
Rand - Aus dollar
10.92
-0.0%
Rand - Yen
0.13
-0.2%
Gold
1,826.85
+0.6%
Silver
27.09
+0.4%
Palladium
2,863.32
+0.1%
Platinum
1,210.07
-0.3%
Brent Crude
69.32
+1.1%
Top 40
60,211
-2.1%
All Share
66,169
-1.9%
Resource 10
69,474
-3.1%
Industrial 25
82,513
-1.5%
Financial 15
12,499
-1.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 1436 votes
No, I did not.
52% - 3596 votes
My landlord refused
28% - 1910 votes
Vote