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South Africa's January retail sales down 2.3 percent year/year
March 15, 2017 / 11:28 AM / in 7 months

South Africa's January retail sales down 2.3 percent year/year

JOHANNESBURG, March 15 (Reuters) - South African retail sales fell by 2.3 percent year-on-year in January, lagging market expectations, following a revised rise of 1 percent in December, data from the statistics office showed on Wednesday.

Analysts polled by Reuters had forecast a 1.2 percent year-on-year rise in January.

On a month-on-month basis, sales fell by 1.2 percent and edged up 0.7 percent in the three months to January compared with the same period last year, Statistics South Africa said. (Reporting by Olivia Kumwenda-Mtambo and Olwethu Boso; Editing by James Macharia)

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