South Africa’s retail sales grew less-than-expected in July, though sales rose for a fifth straight month, figures from Data South Africa revealed Wednesday.
Retail sales increased 1.8 percent year-on-year following 3.2 percent increase in June. Economists had actually anticipated a 2.5 percent gain.
The greatest gains in sales were seen in the “others”, “food, drinks and tobacco”, and “family furnishings, appliances and devices” groups.
Compared to the previous month, retail sales dropped 0.6 percent in July, reversing a similar size gain in June.
The material has actually been supplied by InstaForex Business – www.instaforex.com