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Financial News: South Africa Retail Sales Growth Slows For Second

South Africa Retail Sales Growth Slows For Second Month

10/16/2019 - 07:24:00 (RTTNews)

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

Retail sales climbed a non-adjusted 1.1 percent year-on-year in August, following a 2.0 percent increase in July. In June, sales grew 2.4 percent.

The main contributions came from all 'other' retailers, general dealers, and retailers in household furniture, appliances and equipment.

On a monthly basis, retail sales fell a seasonally adjusted 0.9 percent in August, after a 0.2 percent rise in the prior month. Sales fell for the first time in three months.

For the three-month period ended August, retail sales rose 0.7 percent, the same rate as seen in the previous three month ended July.

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