South Africa: Retail Sales Contract 13th Month in a Row

Johannesburg — Retail sales contracted for the 13th month in a row during February, quashing forecasts for a small increase and showing that the recovery in consumer spending, the economy's main engine, remains tentative.

Retail sales fell by 1,5% compared with the same month last year, the same pace as in January and disappointing local markets which had predicted a rise of 0,6%, official data showed yesterday.

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