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Financial News: Singapore Retail Sales Decline Slows In November

Singapore Retail Sales Decline Slows In November

01/10/2020 - 03:11:00 (RTTNews)

(RTTNews) - Singapore retail sales decline slowed November, but remained strong led by a steep fall in automobile sales, data from the Department of Statistics showed on Friday.

Retail sales declined 4.0 percent year-on-year in November, following a 4.4 percent fall in October. Economists had expected a 4.4 percent decrease.

Motor vehicle sales decreased 22.4 percent, after a 22.8 percent drop in October.

Excluding motor vehicles, retail sales declined 0.6 percent, following a 0.7 percent fall.

Sales of furniture and household equipment, and those at department stores fell by 10.9 percent 8.4 percent, respectively, in November.

On a monthly basis, retail sales edged up 0.2 percent in November, reversing a 2.4 percent fall in October.

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