Business

November retail trade sales beat expectations

I-Net Bridge

November retail trade was up by more than 4% from last year, Statistics South Africa has said.

Retail trade between October and November increased by 1.2% and November retail trade increased by 4.2% year on year. (Supplied advertorial image)

Retail trade sales measured in constant (2012) prices rose by a more than expected 4.2% year on year (y/y) in November from a revised 1.4% (1.3%) y/y increase in October‚ figures from Statistics South Africa showed on Wednesday.

Retail trade sales were expected to have increased by 1.0% y/y‚ according to a survey of leading economists by I-Net Bridge. Forecasts among the nine economists polled ranged from 0.3% to 2.1%.

Measured in real terms‚ seasonally adjusted retail trade sales rose 1.2% between November and October.

This followed month-on-month changes of -0.3% in October and -0.7% in September.

The main contributors to the 4.2% increase were general dealers with a 2.6 percentage points contribution and retailers in textiles‚ clothing‚ footwear and leather goods‚ which contributed 2.0 percentage points.

The highest annual growth rates were recorded for retailers in textiles‚ clothing‚ footwear and leather goods (9.0%); general dealers (7.1%); and retailers in hardware‚ paint and glass (5.6%).

Seasonally adjusted retail trade sales increased by 0.1% in the three months ended November 2013 compared with the previous three months.

Sales rose by 2.0% in the three months ended November 2013 compared with the three months ended November 2012‚ with the main contributor to this being retailers in textiles‚ clothing‚ footwear and leather goods (7.6% and contributing 1.6 percentage points). – I-Net Bridge

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