South Africa Retail Sales Fall Unexpectedly In October

(RTTNews) - South Africa's retail sales declined unexpectedly in October after recovering in the previous month, data from Statistics South Africa showed on Wednesday.

On an unadjusted basis, retail sales fell 2.5 percent year-on-year in October, reversing a 1.0 percent increase in the prior month. Meanwhile, economists had expected a 0.9 percent increase.

Sales of hardware, paint, and glass decreased the most by 6.6 percent annually in October, followed by sales at general dealers with a 5.7 percent fall.

On the other hand, sales of textiles, clothing, footwear, and leather goods showed a strong growth of 7.0 percent.

On a monthly basis, retail sales dropped 1.2 percent in October versus a 0.6 percent gain in the prior month. This was the third successive rise in a row.