Retail trade sales up 7.1%
South African retail trade sales at constant (2008) prices for August recorded a 7.1% growth year on year (y/y) after a revised 3.0% (2.8%) growth in July, figures released on Wednesday, 19 October 2011, by Statistics SA showed.
Retail trade sales at constant (2008) prices for August were expected to increase to 4.9% y/y according to a survey of leading economists by I-Net Bridge.
Forecasts among the seven economists ranged from 0.3% to 6.3%.
Measured in real terms (constant 2008 prices), seasonally adjusted retail trade sales growth rose 0.7% in August compared with July, following a month-on-month change of 1.3% in July and 1.5% in June.
In terms of the 7.1% y/y growth in August, the highest annual growth rate was recorded for all other retailers, with 15.1%; followed by retailers in household furniture, appliances and equipment, with 14.3%.
In real terms, retail trade sales for the three months ended August 2011 reflected an increase of 4.1% compared with the three months ended August 2010.
The largest contributor to the 4.1% increase was retailers in textiles, clothing, footwear and leather goods, with 6.0% and contributing 1.2 percentage points; followed by general dealers, with 2.5% and contributing 1.0 percentage point; retailers in household furniture, appliances and equipment, with 11.0% and contributing 0.7 of a percentage point; and all other retailers, with 6.0% and contributing 0.7 of a percentage point.
Source: I-Net Bridge
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