March wholesale trade sales up 1.8% y/y

20 May 2016

Growth in wholesale trade sales in constant 2012 prices accelerated marginally to 1.8% in March compared with a year ago from 1.2% in February, Statistics SA data showed on Thursday.

The increase will support economic growth in the first quarter. Wholesale, retail and motor trade; and catering and accommodation account for 14% of gross domestic product (GDP).

Seasonally adjusted wholesale trade sales were up 3.6% month on month in March after a 3.8% increase in February and a 1.8% decline in January.

Seasonally adjusted wholesale trade sales were up 1.7% in the first quarter of 2016 compared with the previous quarter.

Using constant prices helps to remove seasonality effects and gives a clearer comparison of how sales are doing.

But Stats SA also measures wholesale trade sales using current prices. Sales were up 9.4% in March 2016 compared with March 2015 when measured in current prices.

The main contributors to the increase were dealers in: machinery, equipment and supplies, which contributed 4.3 percentage points; agricultural raw materials and livestock, which contributed 3.5 percentage points; and food, beverages and tobacco, which contributed 2.2 percentage points.

The results of the monthly wholesale trade sales survey were used to compile estimates of the GDP and its components, which were used in monitoring the state of the economy and formulating economic policy, Stats SA said.

Source: BDpro

Source: I-Net Bridge

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