Retail growth grows
RETAIL sales rose by 5.3% year on year in the run up to Christmas in December – more than the market expectations of 4% – Stats SA figures showed yesterday.
This pleasing figure was on top of a 7.9% increase in November.
The highest annual growth rates were recorded for “other retailers” (up 14.7%), and retailers in household furniture, appliances and equipment (up 10%).
General dealers and retailers in textiles, clothing, footwear and leather goods also contributed positively in December.
“The overall perspective on retail spending and the strength of the South African consumer is likely to change for the better in months ahead given the current business mood,” one economist said.