In November, South Africa experienced a significant downturn in wholesale trade, marking a stark contrast to the robust recovery observed in October, according to preliminary reports from Statistics South Africa released on Thursday.
When measured at constant prices, wholesale sales witnessed an unadjusted year-on-year decline of 7.3% in November. This follows a 4.9% increase recorded in October, which was notably the first instance of growth seen over a fifteen-month span.
Analyzing on a monthly scale, there was a seasonally adjusted decrease of 3.1% in wholesale sales for November, reversing the positive trend of a 3.5% rise in October.
However, looking at a broader timeframe, wholesale trade showed resilience, with a marginal rise of 0.2% over the three months ending in November compared to the preceding three-month period.
