Singapore Retail Sales Falls In November

By | January 11, 2019

Singapore retail sales declined in November, primarily due to a sharp contraction in automobile sales, data from the Department of Statistics showed on Friday.

Retail sales fell 3.0 percent year-on-year in November, reversing a 0.1 percent rise in October. Automobile sales tumbled 15.1 percent year-on-year after a 2 percent drop in the previous month.

Excluding motor vehicles, retail sales declined 0.2 percent annually after rising 0.6 percent.

Computer and telecommunications equipment sales declined 22.1 percent.

Sales at department store sales rose by 8.7 percent and clothes and footwear grew by 3.0 percent.

Month-on-month, retail sales rose 0.2 percent, in contrast to a 0.3 percent fall in October.

The material has been provided by InstaForex Company – www.instaforex.com

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