June retails sales at record levels

22 September, 2006 at 9:13 am | Posted in Economy | Leave a comment

Retail trade sales at constant prices for June 2006, increased by 9.1% compared with June 2005, Statistics South Africa said.
Retail trade sales at constant prices, for the second quarter of 2006, increased by a record 9.8% compared with the second quarter of 2005.
The 9.1% growth is the highest growth ever reported for the June month since 1999, the closest being a growth of 8.9% reported for the same period in 2004, Stats SA said.

Retail trade sales at constant prices, for the period January to June 2006, increased by 9.6% compared with January to June 2005.

Retail trade sales at current prices, for the second quarter of 2006, increased by 15.4% compared with the second quarter of 2005. Retail trade sales at current prices, for June 2006, increased by 15.8% compared with June 2005.

The corresponding growth rate for June 2005 compared with June 2004 was 8.0%, Stats SA added.

Stats SA said in a press statement accompanying the release that the results published Thursday were based on a new sample drawn in April 2006, replacing the sample drawn in 2005.

“The results indicate that the level of retail trade sales is 1.6% higher than the revised 2005 level.

“The level of sales in the retail trade based on the 2005 sample has been revised downward by approximately 7%, owing to misclassifications and incorrect reporting by some enterprises in the sample.

“More importantly, the main users of the retail trade sales statistical survey will not be affected negatively by this revision as it only affects the level and doesn’t affect the growth trends in the industry,” Stats SA added.

It said that the trend in time series was not affected because it had been back casted to the beginning of the time series.

The time lag of the retail trade sales publication will soon be reduced, Stats SA noted.

“In recognition of the long time lag between the reference month and its publication period, Statistics South Africa is reviewing the current 9 – 10 weeks publication cycle related to wholesale trade, retail trade and motor trade surveys.

“Statistics South Africa will soon be making an announcement on the shortened reference period for these publications,” it concluded.

By Janice Roberts (I-Net)

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