12 Mar '18, 5am

#Singapore Retail Sales year-on-year at -8.4%

#Singapore Retail Sales year-on-year at -8.4%

Retail sales in Singapore declined by 8.4 percent year-on-year in January 2018, reversing from an upwardly revised 6.3 percent rise in the prior month. It was the first drop in retail trade in three months and the steepest since February 2014, as sales fell for: motor vehicles (-9.8 pct vs 26 pct in December); medical goods & toiletries (-7.9 pct vs 3.9 pct); wearing apparel (-17.7 pct vs 3.2 pct); recreational goods (-5.3 pct vs 6.6 pct) and watches & jewelry (-10.5 pct vs -4.8 pct). At the same time, sales contracted in department stores (14.3 pct vs -4 pct); supermarkets (-16.1 pct vs 4.5 pct) and food retailers (-16.3 pct vs -1 pct). On the other hand, sales grew for: petrol service (7.6 pct vs 4.2 pct); furniture & household equioment (7.8 pct vs 2.9 pct) and computer & telecommunications (-3 pct vs 20.1 pct). On a monthly basis, retail sales dropped by 5.4 percent, f...

Full article: https://tradingeconomics.com/singapore/retail-sales-annual

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