• The Ramaphosa Plan

    The president said on Friday that the work "starts now". He wasn't wrong, writes Pieter du Toit.

  • Stimulus recap

    Seven key points in the president's package of economic reforms and spending plans.

  • Supporting role

    Meet the members of President Cyril Ramaphosa's new 10-person advisory panel on land reform.


Retail trade sales up by 1.3% as appliances, clothing show growth - Stats SA

Sep 12 2018 13:27

Retail trade sales for July grew by 1.3% year-on-year in real terms - with appliances and clothing indicating significant growth, Stats SA announced on Wednesday.

The figure was in line with economist projections.

NKC African Economics had forecast a 1.3% year-on-year increase in an earlier note to clients.  

Stats SA said that seasonally adjusted retail trade sales increased by 1.3% in July compared with June 2018. This follows a month-on-month decrease of 1.1% in June and an increase of 1.3% in May.

The biggest decreases over the past year was in the specialised stores category that incorporates food, beverages and tobacco, which fell by 2.2% in July 2018 when compared to July 2017. Additionally, hardware, paint and glass fell by 5.1%.

The household furniture, appliances and equipment category grew by 6.9%, while textiles, clothing, footwear and leather goods grew 3% over July 2018. 

While retail trade sales grew, other recent economic data out of SA has been mostly gloomy.

Earlier on Wednesday the South African Chamber of Commerce and Industry's monthly Business Confidence Index fell to its lowest point this year. On Tuesday, meanwhile, a separate gauge of business confidence released by the Rand Merchant Bank and Stellenbosch University's Bureau for Economic Research came in at its lowest level this year. 

Last week Stats SA reported that the country has slipped into a technical recession for the first time since 2009. 

Manufacturing production volumes, however, increased by an annualised rate of 2.9% in July. 

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

Follow Fin24 on Twitter and Facebook. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

stats sa  |  retail sales  |  sa economy


Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think of President Cyril Ramaphosa's economic stimulus plan?

Previous results · Suggest a vote