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In the news
Growth in wholesale trade sales slows to 1.2% y/y in July
Wholesale trade sales rose 1.2% year on year in July, following a revised 1.7% increase in June, Statistics SA said on Thursday.
© Dmitry Kalinovsky – 123RF.com
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 month 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.
Source: BDpro
Source: I-Net Bridge
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