Financial News: South Africa Retail Sales Growth Quickens In October

South Africa Retail Sales Growth Quickens In October

12/11/2024 - 06:44:00 (RTTNews)

(RTTNews) - South Africa's retail sales expanded at an accelerated pace in October, data from Statistics South Africa showed on Wednesday.

On an unadjusted basis, retail sales rose 6.3 percent year-on-year in October, much faster than the 1.1 percent increase in the prior month.

Sales of household furniture, appliances, and equipment grew the most by 16.6 percent annually in October, followed by sales at general dealers with an 11.5 percent growth. Meanwhile, sales of hardware, paint, and glass were 3.7 percent lower.

On a monthly basis, retail sales rebounded 1.6 percent in October versus a 0.6 percent decrease in the prior month.

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