Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa Retail Sales MoM climbed to 0.1% in March 2026
FMPMonthlyReleased May 2026
South Africa Retail Sales MoM climbed to 0.1% in March 2026, released May 2026, up 1.2% from February's -1.1% reading. The print exceeded the -0.2% consensus by 0.3%. The print is running well above the 12-month average of 0.07%. Over the past 3 months, Retail Sales MoM averaged -0.05%, vs 0.25% in the prior 3-month window. The reading is in the 52nd percentile of the trailing 24-month range.
Latest Release
0.1
Actual
-0.2
Consensus
-1.1
Previous
Median Absolute Error
±1.1 percentage points
across last 12 releases
Last Call
May 2026
Predicted: 0.45
Actual: 0.1
Error: +0.35
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| XAU/USD | ▼ Inverse | −0.48 | COMMODITIES | Bearish XAU | → View |
| EUR/USD | ▼ Inverse | −0.30 | FOREX | Bearish EUR | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Retail Sales MoM (South Africa) was reported at 0.1% in May 2026. This beat the market consensus of -0.2% by 0.3%. The reading rose from the previous value of -1.1%. Trailing 12-month context per ETL data through May 2026. Over the past 12 months, the indicator has averaged 0.34%, ranging from -1.2% to 2.1% across 10 releases.
WHY IT MATTERS
The trailing three releases averaged 0.2%, up from the prior three at -0.1%. Volatility over the past year (σ 0.85%) is comparable than the prior year (σ 0.91%). In May readings over the past 3 years, Retail Sales MoM has averaged 0.43%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with XAU/USD (Bearish XAU). Over the last 12 releases, the Sigmacast model's median absolute error is 1.1%.
WHAT TO WATCH NEXT
The next release is scheduled for June 17, 2026. Same-country events in the next 14 days include Inflation Rate MoM (Jun 17) and Inflation Rate YoY (Jun 17).
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
SHARE
Retail Sales MoM - ZA
Loading chart data...
About Retail Sales MoM — South Africa
DEFINITION
Retail Sales MoM (Month-over-Month) is a key economic indicator that measures the change in the total value of goods and services sold by retail stores in a given month compared to the previous month. This indicator provides valuable insights into consumer spending patterns and overall economic growth, making it a crucial tool for investors, businesses, and policymakers. A positive MoM growth in retail sales indicates a strong consumer demand, while a negative growth may signal a slowdown in economic activity. Retail Sales MoM is widely used to assess the health of the retail sector and its impact on the broader economy.
WHY THIS INDICATOR MATTERS
Consumer activity accounts for the majority of GDP in advanced economies, making spending data a key cyclical signal for retail and discretionary sectors. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Mar 2026): actual 0.1 %, consensus -0.2 %. Prior reading (Feb 2026): -1 %. Before that (Jan 2026): 0.9 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with XAU/USD (Bearish XAU, r=-0.48) — a useful reference for commodities-focused traders.