South Africa Retail Sales Growth Slows

(RTTNews) - South Africa's retail sales increased for the fifth straight month in July, though the pace of growth eased since June, data from Statistics South Africa showed on Wednesday.

On an unadjusted basis, retail sales rose 2.0 percent year-on-year in July, though slower than the 4.1 percent increase in the prior month.

Sales of pharmaceuticals and medical goods, cosmetics, and toiletries grew the most by 5.9 percent annually in July, followed by household furniture, appliances, and equipment by a 4.5 percent rise. Meanwhile, sales of hardware, paint, and glass were 6.3 percent lower.

On a monthly basis, retail sales dropped 0.2 percent in July versus a 1.6 percent increase in the prior month.