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Financial News: Singapore Retail Sales Decrease In December

Singapore Retail Sales Decrease In December

02/05/2021 - 05:29:00 (RTTNews)

(RTTNews) - Singapore retail sales declined in December, data from the Department of Statistics showed on Friday.

Retail sales declined 3.6 percent year-on-year in December, following a 1.7 percent fall in November.

Motor vehicle sales rose 3.3 percent annually in December, after a 5.2 percent growth in the previous month.

Excluding motor vehicles, retail sales fell 4.5 percent in December, following a 2.8 percent decrease in the preceding month.

Sales of cosmetics, toiletries and medical goods declined 35.4 percent yearly in December and those of food and alcohol decreased 35.0 percent.

Sales of department stores declined 28.7 percent. Sales of wearing apparels and footwear, and optical goods and books fell by 22.8 percent and 11.6 percent, respectively.

In December, sales at petrol service stations, watches and jewelry, and other goods declined.

On a monthly basis, retail sales fell 0.9 percent in December, after a 7.5 percent rise in the prior month.

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