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October retail trade sales up 2,2% y/y

13 Dec 2018

Retail trade sales increased by 2,2% year-on-year in October 2018, after a contraction of 0.7% in September, according to Statistics South Africa. On a month-on-month basis, sales rose 0.6% in October.

©Dmitriy Shironosov via 123RF

The muted growth in September was higher than economists’ consensus of 1.5%, according to a poll by Bloomberg.

The highest annual growth rates were recorded for retailers in household furniture, appliances and equipment (10,1%); all 'other' retailers (6,2%); retailers in pharmaceuticals and medical goods, cosmetics and toiletries (4,2%); and retailers in textiles, clothing, footwear and leather goods (3,4%).

Seasonally adjusted retail trade sales increased by 0,6% in October 2018 compared with September 2018. This followed month-on-month changes of -0,7% in September 2018 and 0,7% in August 2018. In the three months ended October 2018, seasonally adjusted retail trade sales increased by 1,0% compared with the previous three months.

Retail trade sales rose 1,8% in the three months ended October 2018 compared with the three months ended October 2017, Statistics South Africa said.