Grim news from the shop keepers
Retail sales statistics were updated yesterday 13 May. The state of the retail sector in March 2009 provides no comfort at all about the state of the SA economy. The statistics indicate that sales adjusted for inflation are still falling at an accelerating rate. Interpreting retail activity is always complicated by the Easter holidays that may come in March or April, as they did this year. We will need to wait for the April numbers to fully adjust for Easter.