Share

Another uptick for retail sales in February - by more than expected

Retail sales in February 2019 increased by 1.1%, against expectations that growth would be less than 1%.

This is compared to 1.2% reported in January 2019. 

According to data released by Stats SA on Wednesday, the main contributors to the 1.1% increase in February came from textile, clothing, footwear and leather goods retailers as well as general dealers.

Stats SA said retail trade sales had showed no growth for the three months since December 2018, compared to the same period the previous year.

The largest growth rates for February 2019 were recorded in household furniture and appliances, reporting growth of 7.4%; and textiles and clothing, reporting growth of 4.4%.

Market analysts had expected retail sales growth to come in at under 1%. Specifically, economists Mpho Tsebe and Elena Ilkova of RMB Global markets Research had expected the retail sales figure to be 0.6%, while analysts from NKC Economics expected the figure to be 0.7%.

NKC had attributed its lower projection to the many headwinds consumers faced, including load shedding.


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.88
+0.3%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.39
+0.2%
Rand - Aus dollar
12.33
+0.1%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders