JOHANNESBURG - South African retail sales rose 1.1% year-on-year in August following a 2% increase in July, Statistics South Africa said on Wednesday.
On a month-on-month basis, sales were down 0.9% and up 1.8% in the three months to the end of August compared with the same period last year, the statistics body said .
Sacci said in a statement, "Trade conditions remained reasonable steady but still in negative territory in September 2019, i.e. below the index level of 50. The seasonally adjusted Trade Activity Index (TAI) that reflects present conditions, declined to 40 in September compared to 43 in August 2019.. Trade conditions are expected to remain stable over the next six months but albeit subdued. The seasonally adjusted Trade Expectations Index (TEI) dipped marginally by 1 index point to 44 and was on a similar level as a year ago."
Sacci further said, "The volume of retail sales and the number of new vehicles sold lately both reported annual upticks. Merchandise export volumes also improved while mining and manufacturing sales were positive year-on-year - albeit in current prices. Merchandise import volumes contracted - affected by the volatile and weak rand."
REUTERS / BUSINESS REPORT ONLINE