FXstreet.com (Barcelona) - Wholesalers have reported a far deeper than expected decline in sales in December from November, offsetting at once, all the gains reported in the previous months, nevertheless, according to preliminary estimations, wholesalers have experienced a good performance in the year 2007.

According to the latest report by the Canadian statistics office, Eurostat, wholesale sales have declined 2.9% from November to December, the largest decline since April, which brings monthly sales to the lowest level seen since November 2006. The decline has come utterly unexpected, as the experts had advanced a 0.1% increase.

One of the main reasons for December's decline in sales has been the 8.1% decline in automotive sales, excluding automobiles, sales have decreased 1.7%, with food, beverage and tobacco products declining 3.1% on the month, household goods sales 1.9% lower, and building material sales 1.8% down from the previous month.