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Market Update: South Africa Retail Sales Rise at Record Pace
South Africa’s retail trade jumped 95.8 percent from a year earlier in April of 2021, following a downwardly revised 2.3 percent fall in March and below market expectations of a 99.7 percent rise. It was the strongest increase in retail activity on record, largely attributed to a low base effect from last year’s strict lockdown measures which affected non-essential retailers. On a seasonally adjusted monthly basis, retail sales went down 0.8 percent, after an upwardly revised 4.5 percent decline in the previous month. source: Statistics South Africa [/s2If]
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