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SA trade sales figures reflect slow economy

Economists have blamed strikes in the platinum and manufacturing sectors for decline.

new Mandela money

JOHANNESBURG - Statistics South Africa says wholesale trade sales measured in real terms dropped by 2.2 percent year on year in August but rose by 3.4 percent when seasonally adjusted.

The figures appear to be more evidence of a slowing economy.

Economists have blamed strikes in the platinum and manufacturing sectors for figures that indicate the economy didn't grow in the first half of the year.

Investment Solutions chief strategist Chris Hart says, "Third quarter growth is not going to be strong, it means this economy is struggling for growth for the year."