South African retail trade sales at constant (2008) prices for April rose a stronger than expected 9.8% year on year after a revised 5.3% (5.1%) growth in March, figures released on Wednesday by Statistics SA showed.
Retail trade sales at constant (2008) prices for April were expected to increase to 5.1% year on year, unchanged from the increase seen in March, according to a survey of leading economists by I-Net Bridge.
Forecasts among the seven economists ranged from 3.8% to 6.1%.
Measured in real terms (constant 2008 prices), seasonally adjusted retail trade sales increased by 2.3% in April compared with March.
Stats SA reported that, regarding the 9.8% year-on-year increase, the highest annual growth rate was recorded for retailers in textiles, clothing, footwear and leather goods, with 16.9%, followed by retailers in pharmaceutical and medical goods, cosmetics and toiletries, with 13.7%, and retailers in household furniture, appliances and equipment, with 13.1%.
Retail trade sales for the three months to April reflected an increase of 6.9% compared with the three months to April 2010.
The largest contributor to the 6.9% increase was general dealers, with 6.1% and contributing 2.4 percentage points; retailers in textiles, clothing, footwear and leather goods, with 9.1% and contributing 1.8 percentage points. — I-Net Bridge