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Financial News: Singapore Retail Sales Decline Slows In November

Singapore Retail Sales Decline Slows In November

01/05/2021 - 05:18:00 (RTTNews)

(RTTNews) - Singapore retail sales declined in November, but at a softer pace, data from the Department of Statistics showed on Tuesday.

Retail sales declined 1.9 percent year-on-year in November, following an 8.5 percent fall in October.

Motor vehicle sales rose 5.2 percent annually in November, after a 7.5 percent growth in the previous month.

Excluding motor vehicles, retail sales fell 2.9 percent in November, following an 11.0 percent decrease in the preceding month.

Sales of food and alcohol decreased 37.3 percent yearly in November and those in department stores declined 24.5 percent.

Sales of cosmetics, toiletries and medical goods, and wearing apparels and footwear fell by 27.5 percent and 22.3 percent, respectively.

In November, sales at petrol service stations, those of watches and jewelry, other goods and books declined.

On a monthly basis, retail sales gained 7.3 percent in November, following a 0.2 percent rise in the prior month.

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