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SA December retail trade sales up 3.4% y/y

19 Feb 2015

Retail trade sales grew much better than expected in December 2014 compared with a year ago (y/y)‚ Statistics SA data showed on Wednesday, 18 February 2015.

SA December retail trade sales up 3.4% y/y

Interest rates were kept on hold in November last year while the petrol price decreases that began in August continued in December‚ which could have lifted consumer sentiment and spending. Retail sales are one of the indicators of consumer spending.

Retail trade sales increased by 3.4% y/y in December after increasing by a slightly revised 2.5% (2.6%) y/y in November. The 3.4% was the strongest y/y growth since January last year.

Barclays Africa economists said the 203‚000 jobs created in the fourth quarter could have played a role in lifting retail sales.

Sales‚ however‚ fell 0.2% month on month after increasing by 1.4% in November and 0.4% in October. Retail sales are very volatile on a month-to-month basis.

Stats SA said the main contributors to the 3.4% increase were general dealers who contributed 1.4 percentage points‚ and retailers in textiles‚ clothing‚ footwear and leather goods who contributed 1.3 percentage points.

The retailers that drove sales reflect a usual trend by consumers to stick to less expensive items during times of weak economic growth.

Seasonally adjusted retail trade sales increased by 1% in the fourth quarter of 2014 compared with the previous quarter and rose by 3.1% in the fourth quarter of 2014 compared with the fourth quarter of 2013.

The main contributors to the 3.1% increase were general dealers‚ and retailers in textiles‚ clothing‚ footwear and leather goods.

Source: BDpro via I-Net Bridge

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

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