CAPE TOWN: Retail sales grew by 2.4% year on year in May, below market expectations, after expanding by 3.4% in April, Statistics SA said on Wednesday.
On a month-on-month basis, sales were up 0.1%, and rose by 2.8% in the three months to May compared with the same period last year. The highest annual growth rates were recorded for retailers in hardware, paint and glass (9%) and food, beverages and tobacco in specialised stores (6%). 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).
Downward pressure came from household furniture‚ appliances and equipment and all other retailers categories‚ which recorded annual declines. Seasonally adjusted retail trade sales increased 0.8% in the three months ended May 2015 compared with the previous three months. Retail trade sales increased 2.8% in the three months ended May compared with the three months ended May 2014.
