SA July retail trade sales up 3.3% y/y
Despite being a slowdown, the 3.3% increase in sales was better than the 2.4% that was expected.
Stats SA reported that the main contributors to the 3.3% increase in sales were general dealers, and retailers in textiles, clothing, footwear and leather goods.
The implementation of the public-sector wage deal that was backdated to April may have supported spending in July, Barclays Africa economists said in a research note earlier.
The latest data are another indicator of a slowdown in consumer spending, which is unsupportive of higher economic growth.
Seasonally adjusted retail trade sales increased by 0.1% month on month in July after increasing by 0.4% in the month of June and falling 0.3% in May.
Seasonally adjusted retail trade sales remained unchanged in the three months ended July 2015 compared with the previous three months.
Sales increased by 3% in the three months ended July this year compared with the three months ended July last year, with the main contributors being general dealers; retailers in textiles, clothing, footwear and leather goods; and retailers in hardware, paint and glass.