South Africa’s retail sales grew at a softer pace in June, data from Statistics South Africa showed on Wednesday.
Retail sales rose 10.4 percent year-on-year in June, after a 16.3 percent growth in May. Economists had forecast a 9.6 percent growth.
The largest negative contribution came from all ‘other’ retailers, retailers in food, beverages and tobacco in specialized stores, and general dealers.
On a month-on-month basis, retail sales rose 0.6 percent in July, after a 2.3 percent growth in the previous month.
In the three months ended in June, retail sales increased 0.7 percent, following a 0.2 percent rise in the preceding three months.