WATCH: Why retail sales surprised to the upside
Reezwana Sumad from Nedbank CIB talks to Business Day TV about the retail sales data for November
Analyst expectations of a 0.7% rise in retail sales in November, when Black Friday takes place, were sharply outpaced.
The November print came in at 2.6% year on year from 0.4% in October. This is a marked improvement, but it is well below the 4.5% average annualised growth rate recorded during the November seasonal sales over the past four years.
Reezwana Sumad from Nedbank CIB joined Business Day TV to discuss the data.
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