March 22, 2018 / 11:09 AM / in 7 months

South Africa's retail sales rise 3.1 percent y/y in January

JOHANNESBURG, March 22 (Reuters) - South African retail sales rose by 3.1 percent year-on-year in January, after increasing by a revised 5.1 percent in December, data from the statistics office showed on Thursday.

Analysts polled by Reuters had forecast a 6.2 percent year-on-year increase in retail sales in January.

On a month-on-month basis, sales were down 1.6 percent but rose 5.4 percent in the three months to January compared with the same period last year, Statistics South Africa said. (Reporting by Mfuneko Toyana Editing by James Macharia)

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