South African retail trade sales at constant (2008) prices for June recorded a 2.2% growth year-on-year after a revised 0.2% growth in May, figures released on Wednesday by Statistics SA showed.
Retail trade sales at constant (2008) prices for June were expected to increase to 2.7% year-on-year according to a survey of leading economists by I-Net Bridge.
Forecasts among the eight economists ranged from -1.0% to 3.5%.
Measured in real terms (constant 2008 prices), seasonally adjusted retail trade sales growth rose 2% in June compared with May, following month-on-month changes of -4.8% in May and 2.8% in April.
In terms of the 2.2% year-on-year growth in June, the highest annual growth rate was recorded for retailers in pharmaceutical and medical goods, cosmetics and toiletries, with 9.2%; followed by retailers in household furniture, appliances and equipment, with 6.2%; and general dealers, with 3.4%.
In real terms, retail trade sales for the second quarter of 2011 reflected an increase of 4.1% compared with the second quarter of 2010.
The largest contributor to the increase was general dealers, with 5.5% and contributing 2.1 percentage points; followed by retailers in textiles, clothing, footwear and leather goods, with 5.6% and contributing 1.2 percentage points. — I-Net Bridge