FX.co ★ South Africa Retail Sales Rise at Slower Pace

Retail trade growth in South Africa decelerated significantly to a year-on-year rate of 1.5% in March 2025, a drop from a revised 4.1% growth in February. This represents the most modest increase in sales since September 2024, largely due to a slowdown in various sectors. General dealers experienced growth of just 0.3%, down from 3.6% in February. The textiles, clothing, footwear, and leather goods sector grew by 3.5%, a steep decline from 16.1%, while sales of household furniture, appliances, and equipment rose by 4.9%, compared to 5.9% previously. Other retail sectors reported a 1.1% increase, down from 3.7%. Additionally, sales of food, beverages, and tobacco in specialized stores contracted for the second month in a row, with a 2.6% drop following a prior decline of 3.2%. In contrast, pharmaceuticals, medical goods, cosmetics, and toiletries saw a recovery with a 7.1% growth after a 0.2% decrease, while sales of hardware, paint, and glass rose by 2.5% following a 3.8% decrease. On a seasonally adjusted basis, retail sales declined by 0.2% in March, following a revised 1.2% decrease in February.