(RTTNews) - South Africa's wholesale sales increased at a markedly slower pace in July, after accelerating in the previous month, data released by Statistics South Africa showed Thursday.
Wholesale sales increased 3 percent year-on-year in July, sharply slower than the 7.9 percent growth seen in June. In May, the annual rate of growth was 5.3 percent.
Quarter-over-quarter, wholesale sales decreased a seasonally adjusted 3.6 percent during the month.
In the three months ended July, wholesale sales grew 5.4 percent from the corresponding period last year. Sequentially, sales moved up a seasonally adjusted 1.6 percent during the three-month period.
In the January-July period, South Africa's wholesale sales grew 5.1 percent from the same period a year earlier.
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