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.

20 Oct 2011

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.

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Source: I-Net Bridge

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