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The 0.1% gain could help offset contractions in retail sales and manufacturing production, helping SA escape recession.
The 0.1% gain could help offset contractions in retail sales and manufacturing production, helping SA escape recession.

Wholesale trade sales shrank in real terms in June compared to 2017

ECONOMIC NEWS

By Tammy Foyn - Aug 17th 2018, 09:56

Wholesale trade sales shrank in real, inflation-adjusted terms in June compared with a year earlier and eked out a 0.1% gain for the quarter. 

The quarterly gain, along with a rebound in mining production in June, could help offset 0.1% contractions in both retail sales and manufacturing production in the second quarter, and help SA escape recession.

Wholesale trade sales, measured at constant 2015 prices, amounted to R147.1bn in June — down 0.5% from a year earlier, but up 1.4% from May.

At current prices — without stripping out the effects of inflation — wholesale trade sales rose 6.4% from a year earlier, to R174bn, with a 22.6% increase in fuel sales the main contributor to the rise.

Unlike retail sales, wholesale trade sales include fuel sales, which make up roughly a fifth of all wholesale trade sales. Fuel sales rose to R37.9bn in June, from R36.3bn in May, at current prices — an increase of 4.4%.

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