15 Apr '11, 3pm

Consumer spending turns cautious as retail sales fall 3.6%: By Millet Enriquez | Posted: 15... etailersXclusive.com

Consumer spending turns cautious as retail sales fall 3.6%: By Millet Enriquez | Posted: 15... etailersXclusive.com

SINGAPORE: Singapore retail sales fell 3.6 per cent in February from January mainly due to lower vehicle sales, and analysts said higher crude oil prices may have dampened sentiment in the motor vehicles market. Data from the Department of Statistics showed sales of motor vehicles in February fell 17.6 per cent on-month. Compared to January, sales of telecommunication gadgets, computers books and other household and recreational goods also took a dip of between 5.1 and 17.6 per cent. However, sales of medical goods and toiletries, as well as watches and jewellery, food and petrol services bucked the downtrend, rising between 1.4 and 13.3 per cent. Analysts said the rise in spending on such items was partly due to the Chinese New Year festivities. On a seasonally adjusted basis, food and beverage sales fell 5.2 per cent in February. On-year, Singapore's retail sales in Febr...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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