South Africa Retail Sales Rise Less than Expected
South Africa's retail trade increased 2.0 percent year-on-year in July 2019, easing from a 2.4 percent rise in the prior month and missing market expectations of a 2.6 percent gain. Sales advanced at a slower pace for food, beverages & tobacco (0.8 percent vs 2.2 percent in June); textiles, clothing, footwear and leather goods (3.2 percent vs 4.2 percent); household furniture, appliances & equipment (3.2 percent vs 5.6 percent) and general dealers (0.1 percent vs 1.0 percent). Also, lower sales were recorded for hardware, paint & glass (-1.7 percent vs -1.6 percent). Meanwhile, those of pharmaceuticals and medical goods, cosmetics & toiletries (3.7 percent vs 1.9 percent) advanced further. On a seasonally adjusted basis, retail sales went up 0.2 percent, after an upwardly revised 0.7 percent increase in the prior month.
61 min ago