Market News
South African Retail Sales Rise 1.3% Year-on-Year in April - REUTERS
JOHANNESBURG, June 17 (Reuters) — South Africa's retail sales increased by 1.3% year-on-year in April, according to figures released by Statistics South Africa on Wednesday.
The increase follows a revised 2.5% annual rise recorded in March, indicating that consumer spending remained positive, although growth moderated compared with the previous month.
On a seasonally adjusted basis, retail sales rose 0.9% month-on-month in April, reflecting continued resilience in household demand despite ongoing economic pressures.
Retail sales data are closely monitored as a key indicator of consumer confidence and economic activity. The latest figures suggest that South African consumers continued to spend, albeit at a slower pace than in March.
Key Data
- Year-on-year retail sales growth (April): +1.3%
- Year-on-year retail sales growth (March, revised): +2.5%
- Month-on-month retail sales growth (April, seasonally adjusted): +0.9%
The figures come as policymakers and investors assess the strength of domestic demand amid challenges including inflationary pressures, interest rates and broader economic uncertainty.
Source: Statistics South Africa
Reporting by Nilutpal Timsina; Editing by Alexander Winning.
