S. Africa Retail Sales Grow Less Than Expected
South Africa's retail sales grew less-than-expected in July, though sales rose for a fifth straight month, figures from Statistics South Africa showed Wednesday.
Retail sales rose 1.8 percent year-on-year following 3.2 percent increase in June. Economists had forecast a 2.5 percent gain.
The biggest gains in sales were seen in the “others”, “food, beverages and tobacco”, and “household furniture, appliances and equipment” groups.
Compared to the previous month, retail sales dropped 0.6 percent in July, reversing a similar size gain in June.