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South Africa Retail Sales Rebound In January

South Africa's retail sales rose in January after falling in the previous month, preliminary figures from Statistics South Africa showed on Wednesday.

Retail sales rose 1.2 percent year-on-year in January, after a 1.6 percent percent fall in December.

The biggest positive contribution came from pharmaceuticals and medical goods, cosmetics and toiletries and from all 'other' retailers.

On a monthly basis, retail sales rose 1.5 percent in January, following a 5.1 percent decline in the previous month. Economists had expected a 0.4 percent rise.

Separate data from Statistics South Africa revealed that the wholesale trade sales rose 0.9 percent year-on-year in January, after falling 5.4 percent in December.

On a month-on-month basis, wholesale trade sales rose 3.7 percent in January, reversing a 7.5 percent drop in the prior month.

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