Retail sales drop sharply

RETAIL sales fell more sharply than expected in November, highlighting the weakness of consumer demand and raising hopes that there is still a chance for another interest rate cut this year.

RETAIL sales fell more sharply than expected in November, highlighting the weakness of consumer demand and raising hopes that there is still a chance for another interest rate cut this year.

Stats SA said yesterday retail sales fell by 6,6percent year-on-year in November at constant prices, weaker than the forecast 5percent decline and a revised 6,1percent fall in October. - Reuters

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