Monday, October 22, 2012

Retail sales continued to fall last quarter

September was the most challenging month of the quarter. It recorded a drop in sales of almost 1.5% from the same month last year. It cites pre-budget speculation as the main reason, which caused a decrease in consumer sentiment that month. The worst performing sectors in the third quarter were IT, which was down almost 20% on the same quarter last year, and gardening equipment, down 8.5% on the third quarter of 2011. The best performing sectors included Consumer Electronics and Home Appliances, both recording an increase in sales in the third quarter compared to last year.

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