SA October retail trade sales up 3.4% y/y

Retail trade sales increased by a more than expected 3.4% year on year (y/y) in October after increasing by 2.3% y/y in September.

Retail sales were expected to have increased by 2% according to a median consensus forecast from a BDpro survey of six economists.

The main contributors were general dealers who contributed 0.8 of a percentage point‚ retailers in textiles‚ clothing‚ footwear and leather goods with a 0.7 of a percentage point contribution and retailers in food‚ beverages and tobacco in specialised stores who contributed 0.6 of a percentage point.

Seasonally adjusted retail trade sales increased by 0.4% last month following a 0.7% contraction in September and a 0.5% increase in August.

Seasonally adjusted retail trade sales increased by 0.6% in the three months ended October compared with the previous three months.

Retail trade sales increased by 2.6% in the three months ended October 2014 compared with the three months ended October 2013. The main contributors to this increase were general dealers; and retailers in hardware‚ paint and glass.

Source: BDpro via I-Net Bridge