Retail sales were expected to increase by 2.2%‚ according to a BDlive median consensus forecast from nine economists.
Higher retail sales suggest some improvement in consumer spending‚ which in turn supports economic activity and growth.
Consumer spending has been supported by lower inflation and fuel prices‚ and stable interest rates over the past few months.
The main contributors to the 4.2% increase were general dealers‚ contributing 2 percentage points; and retailers in hardware‚ paint and glass‚ who contributed 0.7 of a percentage point. These retailers have been driving sales in recent months.
Seasonally adjusted retail trade sales increased by 1.9% month-on-month in February after increasing by 0.2% in January and falling 0.8% in December.
Seasonally adjusted retail trade sales increased by 0.9% in the three months ended February 2015 compared with the previous three months.
Sales also increased in the three months ended February 2015 compared with the three months ended February 2014 mainly due to higher sales by retailers in textiles‚ clothing‚ footwear and leather goods; and general dealers.
Source: BDpro via I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
