South African real wholesale trade sales, excluding diamonds, rose by 21,7% year-on-year (y/y) in November 2004 after rising by a revised 19,8% y/y (original estimate 17,1% y/y) in October 2004, Statistics South Africa reported on Thursday. The original estimate had been at 17,1% y/y.
Nominal sales soared by 25,8% y/y in November from a revised increase of 23,3% y/y in October. The original estimate had been 20,5%.
After a relatively subdued first few months of 2004, retailers stocked up in anticipation of a bumper second half 2004. In April 2004, real wholesale sales in fact declined by 1% y/y.
The three months to November showed a 19,5% increase on a year ago in real terms and 23% in nominal terms.
Wholesale trade sales at constant (2000) prices for the first 11 months of
2004 increased by 12,3% y/y, while the nominal increase was 14% y/y to give a wholesale inflation rate of a tiny 1,5% y/y. – I-Net Bridge