November wholesale trade sales -13.0%

Wholesale trade sales grew at 5.9% in 2008 and 6.3% in 2007, but have been negative for each month of the year so far in 2009 and in double digits since April. Yesterday's reading is also the worst one in a quarter.

It brings scant relief for the real economy turnaround as it is indicative of continuing consumer pressure.

Indicative of a dismal trend, the data also showed wholesale trade sales, at constant (2000) prices, for the three months ended November 2009 decreased by 12.3% compared with the three months ended November 2008, while sales for the corresponding period in 2008 increased by 2.8%.

Seasonally adjusted wholesale trade sales, at constant (2000) prices, for the three months ended November 2009 decreased by 0.1% compared with the three months ended August 2009.

Wholesale trade sales, at current prices, for the three months ended November 2009 decreased by 14.7% compared with the three months ended November 2008.

The major contributors to this decrease were dealers in machinery, equipment and supplies (-26,5% and contributing -5.5 percentage points), dealers in solid, liquid and gaseous fuels and related products (-24.4% and contributing -4.4 percentage points) and dealers in metals and metal ores (-32.6% and contributing -1.2 percentage points).

Wholesale trade sales, at current prices, for November 2009 decreased by 14.0% compared with November 2008, while sales for the corresponding period in 2008 increased by 16.0%.

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