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SA's November retail trade sales up 3.9% year on year
Retail sales rose much more than expected in November compared with a year ago, suggesting that while consumer spending is slowing, it has not collapsed.
© Konstantin Yolshin – 123RF.com
Retail sales increased 3.9% year on year in November after increasing by a slightly revised 3.4% (3.3%) in October, Statistics SA data showed on Wednesday.
Higher retail sales mean the sector will have supported economic growth in the fourth quarter of last year.
The main contributors to the 3.9% increase were general dealers, who contributed 1.9 percentage points, and retailers in textiles, clothing, footwear and leather goods with a 1.2 percentage-point contribution.
Seasonally adjusted retail trade sales increased 2.5% month on month in November after rising 0.4% in October and falling 1.5% in September 2015.
In the three months ended November 2015, seasonally adjusted retail trade sales increased 0.9% compared with the previous three months.
Sales increased 3.5% in the three months ended November 2015 compared with the three months ended November 2014. The main contributors were again general dealers, and retailers in textiles, clothing, footwear and leather goods.
Source: Business Day
Source: I-Net Bridge
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