S. African retail sales inch up 0.8% YoY in May

Statistics South Africa released retail sales data on Wednesday, showing a modest year-on-year increase but a slight decline in month-on-month figures.

May retail sales rose 0.8 per cent compared to May 2023, marking a continuation of the positive trend observed in April, which saw a revised 0.7 per cent year-on-year increase.

However, on a month-over-month basis, May retail sales dipped 0.7 per cent. This follows a 0.5 per cent increase in April.

Attribution: Reuters