Wholesale trade sales rose 1.2% in April 2024 compared to April 2023, measured in constant 2019 prices. This reflects growth in the sector despite economic challenges.
Month-on-Month Gains
Seasonally adjusted sales increased 6.9% in April 2024 compared to March 2024. This follows a 5.2% decline in March and a 2.3% increase in February. The sales growth in April suggests a rebound from the previous month’s drop.
| Month | Sales Change |
|---|---|
| February | +2.3% |
| March | -5.2% |
| April | +6.9% |
Three-Month Comparison
In the three months ending April 2024, seasonally adjusted sales increased by 0.4% compared to the previous three months. This modest growth indicates stability in the wholesale trade sector.
Nominal Sales Increase
Measured in current prices, wholesale trade sales rose 6.7% in April 2024 compared to April 2023. The nominal increase shows that the sector is growing when inflation is taken into account.
Key Contributors to Growth
The main contributors to the nominal sales increase were dealers in machinery, equipment, and supplies, which rose by 13.4%, contributing 1.9 percentage points. ‘Other’ goods dealers also saw a significant rise of 29.2%, contributing 1.8 percentage points.
| Category | Sales Change | Contribution |
|---|---|---|
| Machinery, equipment, supplies | +13.4% | +1.9 percentage points |
| Other goods | +29.2% | +1.8 percentage points |
Negative Contributions
The main negative contributor was dealers in solid, liquid, and gaseous fuels and related products, which saw a decline of 6.7%, contributing -2.0 percentage points.
| Category | Sales Change | Contribution |
|---|---|---|
| Fuels and related products | -6.7% | -2.0 percentage points |
Three-Month Decline
Wholesale trade sales decreased by 0.6% in the three months ended April 2024 compared to the same period in 2023. The main negative contributor was dealers in solid, liquid, and gaseous fuels and related products, with a 7.3% decline, contributing -2.0 percentage points. On the positive side, dealers in machinery, equipment, and supplies saw a 5.3% increase, contributing 0.8 percentage points.
| Category | Sales Change | Contribution |
|---|---|---|
| Fuels and related products | -7.3% | -2.0 percentage points |
| Machinery, equipment, supplies | +5.3% | +0.8 percentage points |
Sector Analysis
The wholesale trade sector’s performance in April 2024 highlights both growth and challenges. While sales increased in real terms and month-on-month figures showed a rebound, the three-month comparison indicates some underlying issues. The growth in machinery, equipment, and supplies, as well as ‘other’ goods, is a positive sign. However, the decline in fuel-related products is a concern, reflecting broader issues in the energy market.
Economic Implications
The increase in wholesale trade sales at constant prices suggests resilience in the sector. However, the mixed results in nominal terms indicate that inflation and other economic factors are affecting different categories unevenly. The decline in fuel-related sales may reflect high energy prices and reduced demand, impacting overall sector growth.
Looking Ahead
The wholesale trade sector needs to navigate these mixed signals. Companies should focus on growth areas such as machinery and ‘other’ goods. Addressing the challenges in the fuel market will also be crucial for overall sector health.
Conclusion
April 2024’s wholesale trade sales data presents a complex picture. While there are signs of growth, challenges remain, particularly in the energy sector. The sector’s resilience in real terms is promising, but nominal terms reveal areas needing attention. Companies must adapt to these mixed signals to ensure sustained growth and stability in the coming months.
Summary Table
| Aspect | Change |
|---|---|
| Real Terms (April 2023 vs. 2024) | +1.2% |
| Month-on-Month (April vs. March) | +6.9% |
| Three-Month Comparison | +0.4% |
| Nominal Terms (April 2023 vs. 2024) | +6.7% |
| Main Positive Contributor | Machinery, equipment, supplies (+13.4%) |
| Main Negative Contributor | Fuels and related products (-6.7%) |
| Three-Month Decline (2023 vs. 2024) | -0.6% |