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South Africa retail sales up by 6.8% in January 2014

RBR Staff Writer Published 20 March 2014

South Africa's retail sales grew at the fastest pace in more than a year in January 2014 and exceeded expectations by a wide margin, according to the latest figures released from Statistics South Africa.

Sales up

Retail sales rose an unadjusted 6.8% year-on-year, following 2.7% increase in December. It was the fastest pace of growth since August 2012, when sales grew 6.9%, the agency noted.

In November 2013, sales climbed 4.4%, as against the corresponding period a year ago.

During the month, sales in the textiles, clothing, footwear and leather goods segment surged by 11.6%, and led retail sales growth at the start of the year.

This was followed by 9.9% rise in sales in the hardware, paint and glass group.

Month-on-month, sales increased 0.8% in January, following a gain of 1% in December and 1.5% in November.

In the three months ended January, sales grew 2.1% from the previous three months, and 4.3%from the same period a year ago.

Image: South Africa retails sales up in January. Photo: Courtesy of FreeDigitalPhotos.net/ photostock.