Retail sales hit record lows during lockdown 🔒
Retail sales for April and May had record-setting declines, mirroring the effects of the phased lockdown that has left SA’s embattled consumers and businesses reeling.
Though the economy is incrementally reopening, SA faces one of the worst recessions since the Great Depression. The outlook for the sector is overshadowed by rising job cuts and lower incomes — which will hurt consumer spending, analysts say.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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