Annual retail sales increase by 2.4% for April
Annual retail sales increased by 2.4% in April 2019, with growth in textiles, pharmaceuticals and household furniture, according to Stats SA.
In March annual retail sales grew by 0.1%, and in February 1.4%.
According to data released by Stats SA on Wednesday, the largest annual growth rates for April were recorded for
- textiles, clothing, footwear and leather goods (6.4%);
- pharmaceuticals and medical goods, cosmetics and toiletries (5.3%); and
- household furniture, appliances and equipment (4.6%).
The 2.4% increase for April was above the expectations of analysts. NKC African Economics had forecast 1.4% growth that retail sales.
On Tuesday Stats SA announced that annual manufacturing production had increased by 4.6% in April, also above market expectations.