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Financial News: Singapore Retail Sales Fall 0.4%

Singapore Retail Sales Fall 0.4%

02/05/2024 - 02:15:00 (RTTNews)

(RTTNews) - Singapore's retail sales decreased in December after rebounding in the previous month, preliminary data from the Department of Statistics showed on Monday.

Retail sales dropped 0.4 percent year-on-year in December, reversing a 2.4 percent rise in November.

Sales excluding motor vehicles also fell 2.7 percent from last year versus a 1.3 percent gain in the prior month.

There was a 12.3 percent decline in recreational goods, followed by an 11.8 percent decline in optical goods and books.

Data showed that sales at mini-marts and convenience stores showed a fall of 8.2 percent, while motor vehicle sales alone surged by 23.8 percent.

During December, the online sales proportion was 13.1 percent of the overall retail sales, lower than the 15.3 percent recorded a month ago.

On a monthly basis, retail sales dropped a seasonally adjusted 1.5 percent in December, in contrast to a 0.5 percent increase in November.

The index for food and beverage services grew 0.3 percent year-on-year in December, following a 1.6 percent rise in the prior month.

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