South Africa’s retail sales grew in February, data from Statistics South Africa showed on Wednesday.

Retail sales increased 2.3 percent year-on-year in February, after a 3.7 percent decrease in January. Economists had forecast a 1.8 percent decline.

The largest positive contribution came from retailers in household furniture, appliances and equipment, and textiles, clothing, footwear and leather goods.

On a month-on-month basis, retail sales surged 6.9 percent in February, after a 2.4 percent decline in the previous month.

In the three months ended in February, retail sales increased 1.7 percent, after a 1.1 percent rise in the preceding three months.

The material has been provided by InstaForex Company – www.instaforex.com

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