Group 1 - South Africa's retail sales growth has significantly weakened as of August 2024, indicating short-term pressure on domestic consumption [1] - Retail sales increased by 3.2% year-on-year over the three months leading to August 2024, but the monthly data shows a notable slowdown with a 2.3% increase in August compared to a revised 5.7% in July [1] - August's retail sales also saw a month-on-month decline of 1.2%, ending a previous trend of growth, highlighting a potential softening in consumer demand [1] Group 2 - The year-on-year data is adjusted for inflation, reflecting actual sales volume changes, indicating that the slowdown is not driven by price fluctuations but by a substantial reduction in consumer purchasing behavior [1] - Analysts suggest that the rapid decline in monthly data from July's strong growth to August's downturn may signal a weakening willingness for household spending, influenced by high interest rates, pressure on the job market, and sluggish growth in disposable income [1][2]