JOHANNESBURG: Retail sales up to May gained 2.4% year-on-year, according to figures released this afternoon by Statistics SA.
The government stats body notes the highest annual growth rates were recorded for retailers in hardware, paint and glass (9%), and the food, beverages and tobacco in specialised stores sector, which gained 6%. SA’s economy is driven by consumption, which drives more than 60% of gross domestic product. Statistics SA said the main contributors to the 2.4% increase were general dealers (contributing 0.9 of a percentage point) and retailers in hardware, paint and glass (contributing 0.6 of a percentage point).
Trading updates released by both Shoprite and Woolworths this morning show those retailers are seeing increased sales as food continues to prove resilient to the economic slow down. Seasonally adjusted retail trade sales increased 0.1% month-on-month in May 2015. This followed a flat April and a 0.2% decline in March, said Statistics SA, Seasonally adjusted retail trade sales increased by 0.8% in the three months ended May 2015 compared with the previous three months.
Retail trade sales increased by 2.8% in the three months ended May 2015 compared with the three months ended May 2014, said the stats office.
