Retail sales declined in September, Statistics South Africa said on Wednesday.
A decrease of 5,1% was reflected for September 2009 when compared with September 2008, the Pretoria-based agency said.
In August, retail sales declined by a revised 6,5% year-on-year, Statistics SA noted.
September’s figure came as a shock as most economists had predicted a 4,4% year-on-year decline.
Retail sales have decreased for most of 2009 as concern about job security impacted on households limiting their willingness to spend.
It is estimated that almost one million jobs have been lost in South Africa since the beginning of the year.
The South African Reserve Bank’s interest rates cuts that commenced in December 2008 have yet to make a positive impact on retail sales. — Sapa