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Retail sales up 2,7% in March
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 that month ahead of the implementation of the national lockdown on 27 March.
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Positive annual growth rates were recorded for retailers in pharmaceuticals and medical goods, cosmetics and toiletries (13,9%); general dealers (11,6%); and retailers in food, beverages and tobacco in specialised stores (0,1%).
The main contributor to the 2,7% increase was general dealers (contributing 5,2 percentage points).
Seasonally adjusted retail trade sales increased by 2,3% in March 2020 compared with February 2020. This followed month-on-month changes of -0,3% in February 2020 and 0,7% in January 2020. In the first quarter of 2020, seasonally adjusted retail trade sales increased by 0,2% compared with the previous quarter.
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