S. Africa July Retail Sales Decline Less Than Expected

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Monday, the Statistics South Africa announced that the retail sales at constant prices decreased 3.9% year-on-year in July, compared to the 6.9% fall in the previous month, revised from 6.7% fall reported initially. Economists expected a decline of 5.9%. A year ago, retail sales were up 0.6%.

In the May to July period, retail sales decreased 5.1% compared to the same period of the previous year

For the first seven months of the year, retail sales declined 4.5% compared to the corresponding period of the previous year.

Retail sales at current prices increased 6.7% on an annual basis in August, faster than the 3.6% growth in the previous month. During the May to July period, retail sales were up 5.7% over a year ago. For the first seven months of the year, retail sales increased 6.7% compared to the same period of the previous year.

Monday, the Statistics South Africa announced that the retail sales at constant prices decreased 3.9% year-on-year in July, compared to the 6.9% fall in the previous month, revised from 6.7% fall reported initially. Economists expected a decline of 5.9%. A year ago, retail sales were up 0.6%. (Market News Provided by RTTNews)