Economists eye 7.0% growth in November retail
RETAILER NEWS
Business Live - Jan 16th, 08:50
Growth in SA's retail trade sales at constant (2008) prices for November is expected to lose a bit of momentum and clock in at 7.0% year on year, from a y/y growth of 7.4% in October, according to a survey of leading economists by I-Net Bridge.
Forecasts among the six economists ranged from 4.3% to 7.9%.
Citigroup economist, Jean-Francois Mercier said they expected that real retail sales had plateaued somewhat in November, barely increasing on a month-on-month seasonally-adjusted basis after several strong gains in the previous months.
He added that the average of October/November however would still be about 2% higher than the third quarter mean, and their forecast would still be consistent with a real, y/y rate in excess of 7.0%, for the fourth month in a row.
"Thus, we would still be talking of underlying strength in the retail sector, especially as the y/y comparison does not come off a particularly weak base.
"And in nominal terms, sales growth probably would exceed 11% y/y for the fourth consecutive month, thanks to a continued gradual rise in inflation at the retail level," he said.
The November retail trade sales data will be released by Statistics SA at 1pm on Wednesday, January 18
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