May retail trade sales 0.0% y/y
South African retail trade sales at constant (2008) prices for May recorded 0.0% growth year on year (y/y) after a revised 10.0% (9.8%) growth in April, figures released today, Wednesday 20 July 2011, by Statistics SA showed.
Retail trade sales at constant (2008) prices for May were expected to increase to 7.7% y/y according to a survey of leading economists by I-Net Bridge.
Forecasts among the seven economists ranged from 4.5% to 8.7%.
Measured in real terms (constant 2008 prices), seasonally adjusted retail trade sales growth fell 4.7% in May compared with April, following month-on-month changes of 2.6% in April and 0.4% in March.
Retail trade sales for the three months ended May reflected an increase of 5.0% compared with the three months ended May 2010. The largest contributor to the increase was general dealers, with 6.3% and contributing 2.4 percentage points; followed by retailers in textiles, clothing, footwear and leather goods, with 5.9% and contributing 1.2 percentage points.
Total retail trade sales in real terms recorded no growth between May 2010 and May 2011.
The largest percentage changes between these two months were recorded for retailers in household furniture, appliances and equipment with 6.3%; general dealers, with 4.0%; retailers in pharmaceutical and medical goods, cosmetics and toiletries, with 3.8%; retailers in hardware, paint and glass, with -8.5%; and retailers in food, beverages and tobacco in specialized stores, with -8.4%.
Source: I-Net Bridge
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