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By Prinesha Naidoo
(Bloomberg) – South African retail sales unexpectedly fell in December as general dealers’ trade dropped.
- The drop in sales adds to negative economic data for the fourth quarter after factory output plunged in December and the unemployment rate remained at an 11-year high. Utility Eskom implemented the deepest power cuts yet at the end of 2019 and that weighed on economic activity.
- Sales were 3.1% lower than in November when Black Friday trade boosted business and many consumers front-loaded their usual festive-season shopping.
Cyril Ramaphosa: The Audio Biography
Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg.