Financial News: Singapore Retail Sales Rebound 1.3%

Singapore Retail Sales Rebound 1.3%

03/05/2024 - 02:55:00 (RTTNews)

(RTTNews) - Singapore's retail sales expanded in January, largely led by higher sales demand for motor vehicles, preliminary data from the Department of Statistics showed on Tuesday.

Retail sales rose 1.3 percent year-on-year in January, reversing a 0.5 percent drop in December.

Sales excluding motor vehicles fell 2.1 percent from last year, versus a 2.8 percent decrease in the prior month.

There was a 37.3 percent jump in sales of motor vehicles from last year. Retailers in the food, alcohol, and watch and jewellery industries saw annual growths in sales of 8.5 percent and 5.3 percent, respectively.

Meanwhile, sales of apparel and footwear declined 11.8 percent, and sales supermarkets and hypermarkets showed a decrease of 6.5 percent.

During January, the online sales proportion was 11.2 percent of the overall retail sales, lower than the 12.8 percent recorded a month ago.

On a monthly basis, retail sales dropped a seasonally adjusted 0.7 percent in January, in contrast to a 0.1 percent increase in December.

The index for food and beverage services fell 5.6 percent year-on-year in January, following a 0.4 percent rise in the prior month.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Eurozone Consumers' 12-Month Inflation Expectations Lowest Since Dec 2021 - ECB (05 min(s), 24 sec(s) ago)
(RTTNews) - Euro area consumers' inflation expectations for the next 12 months hit their lowes ...Full Story»

U.S. Consumer Sentiment Dips More Than Previously Estimated In April (01 min(s), 24 sec(s) ago)
(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentimen ...Full Story»

U.S. Consumer Prices Rise 0.3% In March, Annual Growth Accelerates To 2.7% (11 min(s), 24 sec(s) ago)
(RTTNews) - Closely watched readings on inflation released by the Commerce Department on Friday sh ...Full Story»

Spain Unemployment Rate Rises In Q1 (43 min(s), 24 sec(s) ago)
(RTTNews) - Spain's unemployment rate increased at the start of the year, quarterly data from ...Full Story»

U.S. Consumer Prices Rise In Line With Estimates In March (24 min(s), 24 sec(s) ago)
(RTTNews) - Closely watched readings on inflation released by the Commerce Department on Friday sh ...Full Story»

Russia Central Bank Keeps Key Rate Unchanged (15 min(s), 24 sec(s) ago)
(RTTNews) - Russia's central bank left its key interest rates unchanged for the third consecut ...Full Story»

Austria Manufacturing Downturn Continues In April (05 min(s), 24 sec(s) ago)
(RTTNews) - Austria's manufacturing activity deteriorated further in April, though the pace of ...Full Story»

Eurozone Private Sector Credit Growth Remains Weak (34 min(s), 24 sec(s) ago)
(RTTNews) - Eurozone private sector credit continued to increase in March but the pace of recovery ...Full Story»