March retail sales up 6.8%

Growth in SA's retail trade sales at constant (2008) prices for March rose by 6.8% year on year (y/y), exactly on the consensus forecast, from a revised y/y growth of 6.7% (7.2%) Statistics SA reported on Wednesday. Forecasts among the ten economists ranged from 4.30% to 7.93%.

By Helmo Preuss

17 May 2012

Measured in real terms (constant 2008 prices), seasonally adjusted retail trade sales increased by 2.1% in March 2012 compared with February 2012. This followed month-on-month changes of -2.4% in February and -0.9% in January 2012.

The highest y/y growth rates in March were recorded for retailers in textiles, clothing, footwear and leather goods (12.0%); retailers in household furniture, appliances and equipment (11.3%); and 'all other' retailers (9.8%).

In real terms, retail trade sales for first quarter of 2012 reflected an increase of 5.9% compared with the first quarter of 2011. This followed a 6.1% rise in 2011 and a 5.1% increase in 2010.

The largest contributors to the 5.9% increase in the first quarter 2012 were general dealers (5.9% and contributing 2.3 percentage points); 'all other' retailers (8.3% and contributing 1.0 percentage point); and retailers in textiles, clothing, footwear and leather goods (5.4% and contributing 1,0 percentage point).