SA February retail trade sales up 7.2%

South African retail trade sales at constant (2008) prices for February recorded a 7.2% growth year-on-year (y/y) after an upwardly revised 4.2% [3.9%] growth in January, figures released on Wednesday, 18 April 2012, by Statistics SA showed.

Retail trade sales at constant (2008) prices for February were expected to increase to 5.0% y/y according to a survey of leading economists by I-Net Bridge.

Forecasts among the 10 economists ranged from 2.3% to 7.5%.

Measured in real terms (constant 2008 prices), seasonally adjusted retail trade sales growth fell 2.2% in February compared with January.

This followed month-on-month changes of -1.0% [-0.6%] in January and 1.1% in December 2011.

In terms of the 7.2% y/y growth in February, the highest annual growth rates were recorded for 'all other' retailers, with 11.4%; general dealers, with 8.7%; and retailers in household furniture, appliances and equipment, with 7.9%.

In real terms, retail trade for the three months ended February 2012 reflected an increase of 6.9% compared with the three months ended February 2011.

The largest contributors to the 6.9% increase were general dealers, with 7.8% and contributing 2.9 percentage points; retailers in textiles, clothing, footwear and leather goods, with 6.7% and contributing 1.5 percentage points; and 'all other' retailers, with 9.4% and contributing 1.1 of a percentage point.