JOHANNESBURG, JAN 21 – South Africa’s retail sales growth accelerated in November, pointing to firmer consumer spending toward the end of the year, data from Statistics South Africa showed on Wednesday.
Retail sales increased 3.5% year on year in November, up from a revised 3.0% expansion recorded in October. The stronger annual growth suggests improving momentum in household consumption after a mixed performance earlier in the year.
On a month on month basis, seasonally adjusted retail sales rose 0.6% in November, reinforcing signs of a modest recovery in consumer demand.
The data comes as analysts monitor household spending trends amid easing inflation pressures and gradual improvements in financial conditions, factors that could support consumption into the new year.
