SA February retail trade sales up 2.2% y/y

Retail trade sales measured in constant (2012) prices rose by a lower than expected 2.2% year on year (y/y) in February from a revised 6.4% (6.8%) y/y increase in January‚ figures from Statistics SA showed on Wednesday, 16 February 2014.

Retail trade sales were expected to have increased by 3.2% y/y‚ according to a survey of leading economists by BDpro. Forecasts among the thirteen economists polled ranged from 2.5% to 5.9%.

Measured in real terms‚ seasonally adjusted retail trade sales decreased by 0.2% month on month in February 2014. This followed month-on-month changes of 0.5% in January 2014 and 1.0% in December 2013.

Seasonally adjusted retail trade sales increased by 2.1% in the three months ended February 2014 compared with the previous three months.