FX.co ★ South Africa Retail Sales Growth Above Forecasts

In November 2025, South Africa's retail trade witnessed a notable year-on-year increase of 3.5%, surpassing the previous month's adjusted growth of 3% and exceeding market expectations of a 2.5% rise. This marks the most robust retail growth observed in four months. The growth was primarily driven by general dealers, which contributed a 2.2% increase (adding 1.0 percentage point to the overall growth), followed by an 8.0% rise among various other retailers (contributing 0.8 percentage points), and a substantial 10.1% increase in sales from retailers dealing in pharmaceuticals, medical goods, cosmetics, and toiletries (adding 0.6 percentage points). On a seasonally adjusted basis, the retail trade experienced a monthly growth of 0.6%, building on an upwardly revised increase of 1% from the previous month. Comparing the period ending November 2025 to the same period ending in 2024, retail trade sales expanded by 3.2%.