Retail sales flat at 0.0%

Johannesburg - Retail sales were flat at 0.0% year-on-year in June, sharply undershooting market expectations and compared with a revised 2.6% expansion in May.

Economists polled by Reuters had forecast retail sales would increase by 2.0% compared with the same month last year.

On a month-on-month basis, sales were down 0.4% in June, and rose 1.5% in the quarter to June compared with the same period in 2013.