Retail sales for June underperformed market expectations, falling to the lowest level since January last year and adding further credence to the expectation that SA’s second-quarter GDP shrank as a result of slower global growth and myriad domestic challenges, including intense bouts of load-shedding.

Stats SA said on Wednesday that retail sales contracted 2.5%, far below market expectations of 0.5% year-on-year growth.  Economists polled by Bloomberg and Thomson Reuters expected 0.4% year on year...

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