FX.co ★ South Africa Retail Sales Growth Quickens In October

In October, South Africa's retail sales experienced a significant boost, as reported by Statistics South Africa on Wednesday.

Retail sales saw a notable year-on-year increase of 6.3% in October, compared to a modest 1.1% rise in the previous month when assessed without seasonal adjustments.

Among the categories, household furniture, appliances, and equipment led the surge with an impressive 16.6% annual growth. Sales in general dealers also saw a robust increase of 11.5%. However, the sector dealing with hardware, paint, and glass recorded a decline of 3.7%.

On a monthly comparison, retail sales bounced back by 1.6% in October, following a decrease of 0.6% in the prior month.