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SA retail sales up 2.3% in March

| Economic factors

Stats SA reports that retail trade sales increased by 2.3% year-on-year in February 2024. The largest contributor to this increase was general dealers (6.4% and contributing 2.8 percentage points).

Seasonally adjusted retail trade sales increased by 1.4% in March 2024 compared with February 2024. This followed month-on-month changes of 1.0% in February 2024 and -3.3% in January 2024.

Retail trade sales decreased by 0.1% in the first quarter of 2024 compared with the first quarter of 2023.

The largest negative contributors to this decrease were: retailers in textiles, clothing, footwear and leather goods (-4.0% and contributing -0.7 of a percentage point); all ‘other’ retailers (-3.0% and contributing -0.4 of a percentage point); and retailers in hardware, paint and glass (-3.9% and contributing -0.3 of a percentage point).

The largest positive contributor was general dealers (2.7% and contributing 1.2 percentage points).

Seasonally adjusted retail trade sales decreased by 0.9% in the first quarter of 2024 compared with the fourth quarter of 2023.

The largest negative contributor to the decrease was retailers in textiles, clothing, footwear and leather goods (-8.9% and contributing -1.7 percentage points). The largest positive contributor was general dealers (2.0% and contributing 0.9 of a percentage point).

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