Stats SA reports that South African retail sales plunged by a record 50.4% in April and 12% in May.
"Seasonally adjusted sales at current prices slumped by almost 50% under Level 5 lockdown in April, compared with March. This is the biggest monthly fall in sales since 2002, when Stats SA started publishing monthly growth figures in the current series," says Keshnee Naidoo, director for distributive trade statistics at Stats SA.
The main contributors to the 12,0% decrease in May were all ‘other’ retailers (contributing -6,5 percentage points); retailers in food, beverages and tobacco in specialised stores (contributing -2,2 percentage points); and general dealers (contributing -2,1 percentage points).
The largest negative annual growth rates were recorded for all ‘other’ retailers (-55,5%), retailers in household furniture, appliances and equipment (-30,1%); and retailers in food, beverages and tobacco in specialised stores (-29,1%).
Statistics South Africa reports that retail trade sales increased by 2,7% year-on-year in March 2020. The better-than-expected improvement in sales follows a rise in panic buying...
29 Jun 2020
On a monthly basis sales were up 74.2% after a 50.7% contraction in April. Quarterly sales dropped 19.5%.
The Covid-19 pandemic and lockdown regulations since 27 March 2020 have had an extensive impact on economic activity, Stats SA says, and the latest retail statistics reveal the impact of the stricter levels of the country’s phased coronavirus lockdown.