Growth of the country’s trade sector eased further in the second quarter but retailers continued to show promise, growing a bit faster during the quarter.

Gross value added in trade climbed up 5.2% in the second quarter versus 5.9% in the same period the previous year, data from the National Statistical and Coordination Board (NSCB) show.

At constant 1985 prices, trade gross value added (GVA) amounted to P51.9 billion from P49.3 a year ago.

GVA is the spread between the value of goods produced and the cost of materials and supplies used in producing them.

Retail trade, which accounts for more than three-fourths of total trade activities, grew at a speedier 6.5% against 5.9% the previous year.

The subsector’s gains, however, were countered by the slow growth of the wholesale trade which moved up by a mere 1.2% against 6% the same period a year ago.

The second quarter figures mirror trends seen in the first quarter.

Nonetheless, trading was a bit robust in the second quarter, managing modest growth relative to its strong performance the same period the previous year.

The NSCB reported that improved sales mainly of petroleum products and pharmaceuticals provided the needed lift. Also supermarkets did well during the period, propping up retail sales.

In general, this steadfast showing of trade was backed by the continued strong consumption of Filipinos.

NSCB figures show the second quarter personal consumption expenditure (PCE) expanding 5.2%, a slightly faster rate than the previous year’s 4.8%.

Leading the expenditure list for the second quarter are transportation, communication and food expenditures.

Also, trade’s performance during the quarter rode on the back of the strong patronage enjoyed by a number of newly-opened shopping malls such as the SM Mall of Asia and The Block at SM City North Edsa, among others.

Quarter-on-quarter, retail trade jumped about 14% from P34.8 billion in the first quarter. Meanwhile, wholesale trade expanded at a slower pace of about 5% from P11.8 billion in the first quarter.

Trading activity is expected to ease further in the third quarter on account of seasonality but is expected to improve in the fourth quarter with traditional uptick in spending in the days leading to Christmas and New Year.

Trade comprises about a third of the services sector. Trading activity in the second quarter contributed about 14.95% of the gross domestic product, a tad smaller compared with the 15.14% last year.

As of the first half, gross value added in trade amounted to P98.5 billion. This translated to an increment of about 5.2% from P93.6 billion in the first six months last year.