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Retail sales rise in August

Sales up by 5.5% year-on-year.

South African retail sales rose by 5.5% year-on-year in August, beating market expectations, after increasing by a revised 1.6% in July, data from the statistics office showed on Wednesday.

Analysts polled by Reuters had forecast a 2.3% year-on-year increase in retail sales in August.

On a month-on-month basis, sales were up 2.4% and rose 3.4% in the three months to August compared with the same period last year, Statistics South Africa said.

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