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Financial News: Singapore Nov Retail Sales Rise More Than Expected

Singapore Nov Retail Sales Rise More Than Expected

01/12/2018 - 00:19:00 (RTTNews)

(RTTNews) - Singapore's retail sales grew at a faster-than-expected pace in November, data from the Department of Statistics showed Friday.

Retail sales climbed a seasonally adjusted 5.1 percent month-over-month in November, faster than the 1.5 percent rise in October. That was well above the 0.6 percent increase economists had forecast.

Retail sales of motor vehicles advanced 14.6 percent monthly in November and those of computer and telecommunications equipment jumped by 46.5 percent.

Excluding motor vehicles, retail sales gained 2.9 percent and sales at supermarkets registered a growth of 2.2 percent.

On a yearly basis, retail sales rose 5.3 percent in November, reversing a 0.2 percent increase in October. It was expected to rise by 1.1 percent.

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