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FX.co ★ South Africa Retail Sales Drop In July

South Africa Retail Sales Drop In July

South Africa's retail sales dropped in July, data from Statistics South Africa showed on Wednesday.

Retail sales fell 0.8 percent year-on-year in July, after a 10.5 percent growth in June. Economists had forecast a 9.6 percent growth.

The largest negative contribution came from household furniture, appliances and equipment, hardware, paint and glass, and food, beverages and tobacco products in specialized stores.

On a month-on-month basis, retail sales fell 11.2 percent in July, after a 0.7 percent growth in the previous month.

In the three months ended in June, retail sales decreased 2.9 percent, after a 0.5 percent rise in the preceding three months.

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