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Financial News: South Africa Retail Sales Growth Unexpectedly Improves In

South Africa Retail Sales Growth Unexpectedly Improves In November

01/16/2019 - 06:55:00 (RTTNews)

(RTTNews) - South Africa's retail sales grew at a faster pace in November, defying expectations for a modest weakening, figures from Statistics South Africa showed on Wednesday.

Retail sales rose an unadjusted 3.1 percent year-on-year following a 2.1 percent increase in October. Economists were looking for a 2 percent growth.

Sales of household furniture, appliances and equipment grew 13.5 percent and those of textiles, clothing, footwear and leather goods rose 4.2 percent.

General dealers reported 3.7 percent sales growth.

Compared to the previous month, retail sales grew a seasonally adjusted 3.3 percent in November after a 1 percent increase in October.

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