FX.co ★ South Africa Retail Sales Rise 0.6%

Retail sales in South Africa witnessed growth for the second consecutive month in April, according to data released by Statistics South Africa on Wednesday.

Unadjusted figures indicate that retail sales experienced a year-on-year rise of 0.6 percent in April, down from a 2.3 percent increase in March.

The sector showing the most significant annual growth was household furniture, appliances, and equipment, which surged by 5.6 percent. This was followed by pharmaceuticals, medical goods, cosmetics, and toiletries, which saw a 4.1 percent rise. Conversely, sales in the hardware, paint, and glass sector declined by 1.7 percent.

On a monthly comparison, retail sales showed an increase of 0.5 percent in April compared to a 1.3 percent rise in the previous month.