South African retail sales dip 0.6% in September

Stats SA reports that South African retail trade sales decreased by 0.6% year-on-year in September 2022.

Source: Reuters/Siphiwe Sibeko

The largest negative annual growth rates were recorded for retailers in food, beverages and tobacco in specialised stores (-8.1%); hardware, paint and glass (-8.0%); and pharmaceuticals and medical goods, cosmetics and toiletries (-4.9%).

The largest negative contributors to this decrease were retailers in hardware, paint and glass (contributing -0.8 of a percentage point); and food, beverages and tobacco in specialised stores (contributing -0.7 of a percentage point).

The largest positive contributor was general dealers (contributing 0.8 of a percentage point).

Seasonally adjusted retail trade sales increased by 0.1% in September 2022 compared with August 2022. This followed month-on-month changes of -1.3% in August 2022 and -0.2% in July 2022. In the third quarter of 2022, seasonally adjusted retail trade sales decreased by 1.9% compared with the second quarter of 2022.

Retail trade sales increased by 3.3% in the third quarter of 2022 compared with the third quarter of 2021.