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Financial News: South Africa Retail Sales Fall In August

South Africa Retail Sales Fall In August

10/13/2021 - 07:52:00 (RTTNews)

(RTTNews) - South Africa's retail sales declined for the second straight month in August, data from Statistics South Africa showed on Wednesday.

Retail sales fell 1.3 percent year-on-year in August, following a 1.2 percent decrease in July. Economists had forecast a 2.6 percent growth.

The largest negative contribution came from retailers in hardware, paint and glass, retailers in household furniture, appliances and equipment, general dealers.

On a month-on-month basis, retail sales grew 4.9 percent in August, after a 11.1 percent drop in the previous month.

In the three months ended in June, retail sales decreased 4.1 percent, following a 2.9 percent fall in the preceding three months.

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