South Africa’s retail sales annual growth eased unexpectedly in June and sales declined from the previous month, preliminary data from Statistics South Africa showed Wednesday.
Retail sales rose 0.7 percent year-on-year following 1.9 percent growth in May. Economists had expected sales to grow at a faster pace of 2.2 percent.
On a month-on-month basis, retail sales decreased 1.2 percent in June after a 0.9 percent gain in May.
In the second quarter of 2018, retail sales decreased by 0.4 percent compared with the previous quarter.