SA September retail trade sales up 0.2%

Retail trade sales measured in constant (2012) prices increased by a much weaker than expected 0.2% year on year (y/y) in September from a revised 3.2% (3.0%) y/y increase in August‚ figures from Statistics SA showed on Wednesday, 13 November 2013.

Retail trade sales were expected to have increased by 2.4% y/y‚ according to a survey of leading economists by I-Net Bridge.

Forecasts among the nine economists polled ranged from 1.2% to 4.2%.

Measured in real terms‚ seasonally adjusted retail trade sales fell 0.7% between September and August.

This followed month-on-month changes of 1.2% in August and -0.4% in July.

Positive annual growth rates were recorded for retailers in textiles‚ clothing‚ footwear and leather goods (5.9%); and hardware‚ paint and glass (3.4%).

Positive contributors to the 0.2% increase were retailers in textiles‚ clothing‚ footwear and leather goods (contributing 1.1 percentage points) and retailers in hardware‚ paint and glass (contributing 0.3 of a percentage point).

Seasonally adjusted retail trade sales increased by 0.4% in the third quarter of 2013 compared with the previous quarter.

Retail trade sales increased by 2.1% in the third quarter of 2013 compared with the third quarter of 2012. The main contributors to this increase were retailers in textiles‚ clothing‚ footwear and leather goods (7.4% and contributing 1.5 percentage points); and hardware‚ paint and glass (6.0% and contributing 0.5 of a percentage point).

Source: Business Day