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Financial News: Singapore Retail Sales Growth Eases In November

Singapore Retail Sales Growth Eases In November

01/05/2022 - 06:43:00 (RTTNews)

(RTTNews) - Singapore retail sales grew at a softer annual pace in November, data from the Department of Statistics showed on Wednesday.

Retail sales grew 1.9 percent year-on-year in November, after a 7.5 percent rise in October.

Motor vehicle sales declined 12.3 percent annually in November, following a 13.1 percent fall in the previous month.

Excluding motor vehicles, retail sales gained 4.1 percent yearly in November, after an 11.5 percent rise in the preceding month.

Sales of petrol service stations grew 21.1 percent annually in November and those of watches and jewelry gained 15.3 percent.

Sales of wearing apparels and footwear rose 12.8 percent and those of furniture and household equipment increased 8.0 percent.

Sales of cosmetics, toiletries and medical goods, and food and alcohol accelerated by 7.6 percent and 6.9 percent, respectively. Sales of supermarkets and hypermarkets rose 5.7 percent.

On a monthly basis, retail sales rose 2.5 percent in November, after a 0.7 percent growth in the prior month.

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