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South Africa Retail Sales Fall In August

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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