Thursday, a report by Statistics South Africa said the wholesale trade sales at constant prices dropped 8.9% year-on-year in February to ZAR43.4 billion, after registering a 3.5% fall in January.

At current prices, wholesale trade sales dropped 2.3% annually in February to ZAR77.9 billion, reversing a 5.3% rise in January. Wholesale trade sales declined for the first time in February since December 2003.

Month-on-month, wholesale trade sales at constant prices fell a seasonally adjusted 5% in February to ZAR45.4 billion, following a 3.3% fall in January.

At the same time, wholesale trade sales at current prices slipped 4.1% on a seasonally adjusted basis to ZAR83.7 billion compared to a 3.1% decline in January.

In the December to February period, wholesale trade sales at constant prices fell 1.9% year-on-year, but rose 7.3% at current prices. Sequentially, wholesale trade sales dropped 2.9% at constant prices and 3.9% at current prices in the three-month period.

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