16.08.201707:38:00UTC+00South Africa Retail Sales Rise More Than Forecast

South Africa's retail sales grew for the fourth straight month in June, and at a faster-than-expected pace, figures from Statistics South Africa showed Wednesday.

Retail sales advanced 2.9 percent year-over-year in June, faster than the 1.6 percent rise in May. Economist had expected a 2.3 percent gain for the month.

Sales of food, beverages and tobacco in specialized stores rose markedly by 12.4 percent annually in June and those of household furniture, appliances and equipment climbed by 8.3 percent.

Meanwhile, sales of hardware, paint and glass registered a decline of 7.1 percent.

On a monthly basis, retail sales went up 0.3 percent from May, when it increased by 1.1 percent.