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Retail sales bounce back at 2.4%

Johannesburg - South Africa's retail sales rose 2.4% year-on-year in July, above market expectations and compared with a 0.9% contraction in June.

READ: Retail sales flat at 0.0%

Economists polled by Reuters had forecast retail sales would increase by just 0.3% compared with the same month last year.

On a month-on-month basis, sales were up 1.2%, and rose 1.4% in the three months to July compared with the same period in 2013.

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