South Africa’s retail trade increased by just 0.1 percent from a year earlier in May of 2022, following an upwardly revised 4.3 percent rise in the previous month and defying market estimates of a 1.5 percent advance. It was the smallest gain in retail activity since February, with consumers coming under heavy pressure from higher interest rates and inflation, notably for food and energy. Sales increased only in 2 out of 7 divisions, namely general dealers (3.7 percent vs 5.2 percent in April) and all other retailers (2.1 percent vs 0.5 percent). On a monthly basis, retail trade fell by 1 percent, compared to a revised 0.6 percent increase in the previous month. source: Statistics South Africa
Retail Sales YoY in South Africa averaged 4 percent from 2003 until 2022, reaching an all time high of 95.10 percent in April of 2021 and a record low of -49.90 percent in April of 2020. This page provides - South Africa Retail Sales YoY - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Retail Sales YoY - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Retail Sales YoY in South Africa is expected to be 1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Retail Sales YoY is projected to trend around 2.00 percent in 2023 and 1.80 percent in 2024, according to our econometric models.