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Financial News: South Africa Retail Sales Grow In April

South Africa Retail Sales Grow In April

06/17/2021 - 07:42:00 (RTTNews)

(RTTNews) - South Africa's retail sales accelerated in April, data from Statistics South Africa showed on Thursday.

Retail sales grew 95.8 percent year-on-year in April, after a 2.3 percent decrease in March. Economists had forecast a 99.7 percent growth.

The largest negative contribution came from retailers in textiles, clothing, footwear and leather goods, retailers in hardware, paint and glass, retailers in household furniture, appliances and equipment, and all 'other' retailers.

On a month-on-month basis, retail sales declined 0.8 percent in April, following a 4.5 percent fall in the previous month.

In the three months ended in April, retail sales increased 2.2 percent, following a 1.3 percent rise in the preceding three months.

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