Advertise with fastmoving.co.za
 
 

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

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

ECONOMIC NEWS

Fin 24 - Sep 12th, 16:25

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

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.

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 were 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.
Fin 24 

Read more about: stats sa | sa economy | retail sales | retail

Related News

Liquor and drugs boost Spar's sales
15/11/2018 - 15:07
Ireland was JSE-listed Spar’s best performing region, helping to offset sales and profit declines in Switzerland.

Woolworths to return to profit
15/11/2018 - 14:16
Woolworths will return to profit in the first half of its 2019 financial year following the loss caused by its R7bn impairment of Australian department store chain David Jones in the matching period.

SA loses R6-billion + in revenue to illicit alcohol trade
15/11/2018 - 14:03
The South African economy suffered a fiscal loss of R6.4-billion (USD$492-million) in 2017 due to illicit alcohol activities, which generates an annual revenue of R12.9bn and goes unregulated.

Superbalist.com launches its Click and Collect service in time for peak season shopping
14/11/2018 - 16:09
Customers use the service by choosing “Collection” when they check out on the Superbalist website or app. They are provided a pin code via email and sms and take that to their chosen Takealot Pickup Point within 7 days of delivery - orders arrive within 2-4 days of purchase.

Retail sales growth half that forecast by economists
14/11/2018 - 14:09
Muted growth in the retail sector may be enough to help steer SA out of a recession.