Retail sales decline for seventh consecutive month
The strength of consumer spending is key for growth prospects
Retail trade sales decreased in June, falling for a seventh successive month in another sign of growing financial pressure on consumers as South Africans continue to suffer the brunt of growing borrowing costs in a high-price environment, compounded by weak economic activity and high unemployment.
Stats SA data on Wednesday showed retail sales fell 0.9% after an upwardly revised 1.6% drop in the prior month, and much lower than the market forecast of a 0.2% decline...
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