PRETORIA (dpa-AFX) - South Africa's wholesale sales declined sharply in May, though at a softer pace, data from Statistics South Africa showed on Thursday.
Wholesale sales decreased an unadjusted 20.7 percent year-on-year in May, following a 42.6 percent rise in April. This was the third consecutive fall in sales.
The COVID-19 pandemic and lockdown regulations since March 27 have had an extensive impact on economic activity, the statistical office said.
On a monthly basis, wholesale sales grew a seasonally adjusted 29.7 percent in May, after a 35.4 percent decline in the preceding month.
For the three months ended in May, wholesale sales fell 18.3 percent, following a 13.1 percent decrease in the previous three months ended in April.
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