Retail sales in August showed the weakest growth rate since June 2014, underlining just how poor South African consumers are feeling - and economists don't expect a pick-up in demand any time soon. According to StatsSA figures for August, which were released this week, retail edged up just 0.2% year on year, lower than the market forecast of 0.8%. The meagre growth in sales was again, as in July, boosted by general dealers, pharmaceuticals and cosmetics retailers. The August retail sales were well below the 2.3% year-on-year growth recorded for the first eight months of the year, and the lowest growth rate for any month in 2016 so far. Investec chief economist Annabel Bishop said the forecast growth in GDP of 0.4% meant retail growth was expected to remain stagnant for the rest of the year. Sales in food, beverages and tobacco in specialised stores rose 2.6% while hardware, paint and glass retailers' sales rose just 1.4%. On a seasonally adjusted basis, sales declined by 2.2% quarte...
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