Subscribe & Follow
#CannesLions
- The new standardCarl Willoughby
- All the South African winnersDanette Breitenbach
- Final Grande Prix and LionsDanette Breitenbach
Trending
- #Cannes2024: All the South African winnersDanette Breitenbach
- Gauteng government buys newspaper space to praise MECDaniel Steyn, Joseph Bracken and Raymond Joseph
Jobs
- Innovative Sales Agent Hazyview
- Lead Generators Kempton Park
- Marketing Director Hazyview
- Independent Sales Agent Mbombela
- General Sales Executive Port Elizabeth
- Innovative sales Consultant Mbombela
- Retail Sales Consultant Mbombela
- Inside Sales Representative Barberton
- Sales Associate Mbombela
- Sales Administrator Cape Town
Retail sales grow more than expected in June
South African consumers are spending more than economists thought, with a consensus from a poll done by Trading Economics expecting the June figure to be about 2.2%. The monthly rise from May was 0.2% against an expected monthly contraction of 0.3%.
Retail sales form part of the trade sector of GDP, which was the worst-performing sector in the first quarter, contributing to a 0.7% contraction in GDP and placed SA in technical recession.
Statistics SA reported that second-quarter total retail sales came to R186bn, adjusted for inflation by using constant 2012 prices. SA's quarterly GDP is about R3-trillion, so retail sales contribute about 6% of the total.
At current prices, the second quarter's retail sales came to R236bn, which was 7.1% higher than the matching period's R220bn.
The best-performing sector was specialised food and beverage stores - delicatessens rather than grocery chains. This sector rang up 12.4% higher sales, but only contributed 7.5% of the June total of R61bn at 2012 prices.
Furniture retailers enjoyed 8.3% annual growth and contributed 5.2% of the total. Hardware stores suffered a 7.1% decline in sales, taking their contribution down to 7.2%.
What Stats SA calls general dealers - the major grocery chains - grew sales 2.5% in June, contributing 44% of the total.
Source: BDpro
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za