South Africa’s retail sales grew at the fastest pace in three months in August, Statistics South Africa reported Wednesday.
Retail sales climbed 2.5 percent year-on-year, following July’s 1.4 percent rise. This was the fastest annual growth in three months and came in contrast to the expected fall of 0.1 percent.
The biggest annual growth was reported by retailers in household furniture, appliances and equipment, textiles, clothing and footwear and pharmaceutical and medical goods.
On a monthly basis, retail sales growth eased to 0.6 percent from 1.5 percent, data showed.
In three months ended August, retail trade sales increased 0.5 percent from the previous three months.