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Financial News: South Africa Retail Sales Growth Slows In May

South Africa Retail Sales Growth Slows In May

07/17/2019 - 07:16:00 (RTTNews)

(RTTNews) - South Africa's retail sales growth slowed in May after accelerating in the previous month, figures from Statistics South Africa showed on Wednesday.

Retail sales climbed 2.2 percent year-on-year in May, after a 2.7 percent rise in April. Economists had expected 1.7 percent increase. In March, sales had gained 0.1 percent.

The largest contribution came from general dealers, household furniture, appliances and equipment, pharmaceuticals and medical goods, cosmetics and toiletries, and food, beverages and tobacco in specialized stores.

On a month-on-month basis, retail sales edged up 0.1 percent in May, after a 1.0 percent increase in the previous month.

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