South Africa's retail sales increased more than economists expected in March, data released by Statistics South Africa showed Wednesday.
Retail sales increased 6.8 percent year-on-year in March, faster than the 6.6 percent growth economists forecast. In February, retail trade increased 6.7 percent year-on-year.
Retail sales of textiles, clothing, footwear and leather goods climbed 12 percent annually in March, while sales in household furniture, appliances and equipment increased 11.3 percent. There was a 4.5 percent annual growth in retail sales at general dealers during the month, and a 5.5 percent gain in sales of food, beverages and tobacco in specialized stores.
Month-on-month, retail sales increased a seasonally adjusted 2.1 percent in March, recovering from the previous month's 2.4 percent decline, which was revised up from 2.2 percent. In the first quarter, retail sales turnover advanced 5.9 percent from the corresponding period a year earlier.
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