Financial News: Singapore Retail Sales Fall 2.9%

Singapore Retail Sales Fall 2.9%

02/05/2025 - 01:59:00 (RTTNews)

(RTTNews) - Singapore's retail sales decreased for the second straight month in December, preliminary data from the Department of Statistics showed on Wednesday.

Retail sales dropped 2.9 percent annually in December, faster than the 0.5 percent decrease in November.

Sales excluding motor vehicles declined 4.0 percent versus a 1.1 percent fall in the previous month.

There was a 13.1 percent plunge in sales of computer and telecommunications equipment, and the demand for wearing apparel and footwear was 6.7 percent lower.

Retail sales at mini-marts and convenience stores contracted 9.3 percent in December from last year. Meanwhile, sales of food and alcohol showed an increase of 9.4 percent.

The index for food and beverage services grew 1.0 percent year-on-year in December, following a 4.0 percent rise in the prior month.

The online sales proportion was 13.4 percent of the overall retail sales, lower than the 14.7 percent recorded a month ago.

On a monthly basis, retail sales fell a seasonally adjusted 1.5 percent in December compared to a 2.8 percent drop in November.

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