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2026-09-16 19:03:16
[South African Retail Sales Rebound, July Year-on-Year Growth Expands] ⑴ Data released by Statistics South Africa on Wednesday showed that retail sales grew by approximately 2.2% year-on-year in the three months to the end of July. ⑵ The year-on-year growth rate for June retail sales was revised from the previously announced 1.6% to approximately 1.1%. ⑶ July retail sales grew by approximately 2.5% month-on-month. ⑷ At constant prices, July retail sales grew by approximately 3.4% year-on-year. ⑸ The year-on-year growth rate in July was significantly larger than the revised June figure, indicating that South African consumer demand is showing signs of recovery in the medium term, and retail momentum has improved. ⑹ It is necessary to monitor whether this recovery can be sustained and the strength of the support that improved consumer spending provides for South Africa's overall economic activity.
