SA July retail trade sales up 2.8%

Retail trade sales were forecast to have increased by 4.2% y/y‚ according to a survey of leading economists by I-Net Bridge. Forecasts among the ten economists polled ranged from 1.3% to 6.8%.

Measured in real terms‚ seasonally adjusted retail trade sales fell 0.5% between June and July following month-on-month changes of -0.5% in June and 1.9% in May.

The highest annual growth rates were recorded for retailers in hardware‚ paint and glass (10.3%); textiles‚ clothing‚ footwear and leather goods (8.9%); and food‚ beverages and tobacco in specialised stores (4.3%).

The main contributors to the 2.8% increase were retailers in textiles‚ clothing‚ footwear and leather goods (contributing 1.8 percentage points)‚ retailers in hardware‚ paint and glass (contributing 0.8 of a percentage point) and retailers in food‚ beverages and tobacco in specialised stores (contributing 0.4 of a percentage point).

Seasonally adjusted retail trade sales increased by 0.9% in the three months ended July 2013 compared with the previous three months.

Retail trade sales increased by 3.4% in the three months ended July 2013 compared with the same period last year.

The main contributors to this increase were retailers in textiles‚ clothing‚ footwear and leather goods (8.8% and contributing 1.8 percentage points); general dealers (1.8% and contributing 0.7 of a percentage point); and retailers in hardware‚ paint and glass (7.8% and contributing 0.6 of a percentage point).