South Africa's retail sales dropped 0.4 percent year-on-year in December 2019, following a 2.6 percent rise in November and against market estimates of a 1.5 percent rise. It was the first decline in retail trade since December 2018, led by general dealers (-0.8 percent vs 3.4 percent in November); hardware, paint and glass (-3.7 percent vs -1.1 percent); all other retailers (-1.7 percent vs 1.2 percent) and textiles, clothing, footwear & leather goods (-0.4 percent vs 2.4 percent). Also, sales of food, beverages & tobacco rose much less (1.1 percent vs 6.7 percent). In contrast, increases were reported for household furniture, appliances & equipment (3.5 percent vs 3.2 percent) and pharmaceuticals, medical goods, cosmetics (2.7 percent vs -1.7 percent). On a seasonally adjusted monthly basis, retail sales slumped 3.1 percent, after a downwardly revised 2 percent increase in the previous month. In 2019 as a whole, retail sales grew 1.2 percent over a year ago.
Retail Sales YoY in South Africa averaged 4.32 percent from 2003 until 2019, reaching an all time high of 15.50 percent in September of 2006 and a record low of -6.30 percent in April of 2009. This page provides - South Africa Retail Sales YoY - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Statistics South Africa
Retail Sales YoY in South Africa is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in South Africa to stand at 0.60 in 12 months time. In the long-term, the South Africa Retail Sales YoY is projected to trend around 2.10 percent in 2021, according to our econometric models.