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Retail sales up 2.4% year-on-year

Aug 14 2019 13:35
Fin24

Measured in real terms, retail sales increased by 2.4% year-on-year, StatsSA said on Wednesday.

This was after the May retail sales increased by 2.2%, following an upwardly revised 2.7% increase the previous month.

The largest annual growth rates were recorded for:

  • retailers in household furniture, appliances and equipment (5.2%)
  • retailers in textiles, clothing, footwear and leather goods (4.8%), and
  • all ‘other’ retailers (5.7%).

The main contributors to the 2.4% increase were:

  • retailers in textiles, clothing, footwear and leather goods (contributing 0.8 of a percentage point);
  • all ‘other’ retailers (contributing 0.7 of a percentage point); and
  • general dealers (contributing 0.5 of a percentage point).

Seasonally adjusted retail sales increased by 0.3% in June compared with May 2019, StatsSA said, following month-on-month changes of 0.1% in May 2019 and 0.1% in April 2019.

In the second quarter of the year, seasonally adjusted retail sales increased by 1.1% compared to the previous quarter, according to the data.

Retail sales increased by 2.4% in the second quarter of the year compared to the second quarter of 2018, with the main contributors being general dealers (2.4% and contributing 1.0 percentage point) and retailers in textiles, clothing, footwear and leather goods (4.0% and contributing 0.7 of a percentage point).

retail sales  |  retail  |  economy
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