South African retail sales grow strongly in June

The South African retail sales grew strongly in June. On a year-on-year basis, the retail trade sales rose 2.9 percent in the month, following a revised 1.6 percent rise in May, showed Statistics South Africa. The June figure came in above consensus expectations of a rise of 2.2 percent.

Looking at details, the highest annual sales were seen in retailers in food, beverages and tobacco in specialised stores, retailers in household furniture, appliances and equipment and all ‘other’ retailers. Meanwhile, general dealers and retailers in food, beverages and tobacco mainly contributed positively to the annual rise in headline, adding 1.1 percentage points and 0.9 percentage points respectively.

Meanwhile, on a sequential basis, the retail sales rose 0.2 percent. In the second quarter of 2017, the retail sales grew 2.2 percent as compared with the same period last year.

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