FX.co ★ South Africa Retail Sales Fall 1.8%, More Than Expected

South Africa's retail sales declined for the eighth straight month in July, and at a faster-than-expected pace, data from Statistics South Africa showed on Wednesday.

On an unadjusted basis, retail sales fell 1.8 percent year-on-year in July, the same pace of decrease as in the prior month.

Sales of hardware, paint, and glass decreased the most by 6.8 percent annually in July, followed by sales at general dealers with a 4.1 percent fall.

On the other hand, sales of textiles, clothing, footwear, and leather goods showed a significant growth of 7.1 percent.

On a monthly basis, retail sales remained flat in July, versus a 0.3 percent recovery in June.