South Africa’s retail sales grew at the fastest rate in five months in April, figures from Statistics South Africa showed on Wednesday.

Retail sales rose 2.4 percent year-on-year in April, following a 0.1 percent rise in March. Economists had expected sales to rise 1.2 percent.

The latest increase in sales was the highest since November last year, when it was 3.2 percent.

The positive contribution came from clothing, footwear and leather goods, general dealers, pharmaceuticals and medical goods, and cosmetics and toiletries.

On a month-on-month basis, retail sales grew 0.8 percent in April, reversing a 0.7 percent decline in March.

The material has been provided by InstaForex Company –