Retail trade sales up 8.3% in August

South African retail trade sales at constant (2008) prices for September rose 8.3% year-on-year after a revised 7.7% growth in August, figures released on Wednesday, 16 November, by Statistics SA showed.

Growth in September was expected to lose momentum to a decrease of 6.5% year on year (y/y), according to a survey of leading economists by I-Net Bridge. Forecasts among the eight economists ranged from 5.7% to 7.1%.

August's figure was revised from 7.1%.

According to Stats SA, the highest annual growth rate in September was recorded for 'retailers in hardware, paint and glass' (19.9%), followed by 'all other retailers' (15.6%).

Measured in real terms (constant 2008 prices), seasonally adjusted retail trade sales increased by 1.8% in September 2011 compared with August 2011. This followed month-on-month changes of 1.0% in August 2011 and 1.5% in July 2011.

In real terms, retail trade sales for the third quarter of 2011 reflected an increase of 6.3% compared with the third quarter of 2010.

The largest contributor to the 6.3% increase was 'general dealers' (4.5% and contributing 1.7 percentage points), followed by 'all other retailers' (11.2% and contributing 1.3 percentage points) and 'retailers in textiles, clothing, footwear and leather goods' (6.7% and contributing 1.3 percentage points).