South Africa Retail Sales Rise At Slower Pace

(RTTNews) - South Africa retail sales logged a weaker growth in May, Statistics South Africa reported Wednesday.

Retail sales edged up 0.1 percent on a yearly basis in May, much slower than the 4.3 percent increase in April. Sales were expected to grow 1.5 percent. General dealers and 'other' retailers registered growth, while textile, clothing and footwear contributed negatively to overall sales growth.

On a monthly basis, retail sales dropped 1.0 percent, reversing April's 0.6 percent increase.

In three months to May, retail sales increased 0.3 percent from the preceding three months.