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Growth in wholesale trade sales slows
Growth in wholesale trade sales slows

Growth in wholesale trade sales slows

ECONOMIC NEWS - Sep 15th 2016, 11:10

WHOLESALE trade sales rose 1.2% year on year in July, following a revised 1.7% increase in June, Statistics SA said on Thursday. 

Compared with June, wholesale trade sales increased 2.3% in July, after falling 1.4% in June and rising 2.3% in May.

Wholesale trade is a constituent of the third-largest sector of the economy, along with retail trade, motor trade, and catering and accommodation.

Retail sales growth on Wednesday slowed more than expected, to just 0.8% year on year.

After a shock 1.2% contraction in the first quarter, the economy grew 3.3% in the second quarter — but economists have questioned whether that can be sustained.

Mining and manufacturing production data released last week bolstered that view. The mining sector posted its 11 straight months of year-on-year contraction, with the pace of the fall in output picking up to 5.4%.

Manufacturing production increased, but barely, and at a much slower pace than expected, coming in at 0.4% year on year.From DFM Publishers (Pty) Ltd 

Read more about: wholesale | trade | retail | economy

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