ECONOMY

Wholesale trade drop is slowing down

The turnover index for wholesale commerce posted a 9.4 percent decline in the second quarter of the year from the same period in 2012, against a 15.3 percent drop recorded last year compared with 2011, Hellenic Statistical Authority (ELSTAT) figures showed on Wednesday.

However, the index showed an 11.1 percent increase in the second quarter this year compared with the first quarter, up from a 5.3 percent increase in the same quarters last year. The ELSTAT survey included 21,221 enterprises with a turnover of at least 300,000 euros per year, out of which a sample of 463 around the country was chosen.

ELSTAT further announced a 1.2 percent annual decline in the second quarter for the turnover index of the wholesale and retail trade of cars and motorcycles and their spare parts, but this compares with a 32 percent slide recorded in Q2 of 2012 from the same quarter of 2011. There was also a 22 percent increase in the same index from the first quarter of 2013.

The sales sector of the vehicles industry posted a 0.1 percent annual increase in turnover, having posted a 38.6 percent decline in the second quarter of 2012 compared to the same period in 2011.