Pre-CNY shopping fuels rise in Jan retail sales of 11.8%
Sales of watches, jewellery post highest increase of 29% growth
Singapore
SINGAPORE'S retail sales rose 11.8 per cent year on year in January, following the previous month's 6.7 per cent rise, coming in as the fifth consecutive month of growth.
The improvement in retail sales performance in January 2022 was mainly attributed to increased spending prior to Chinese New Year (CNY) which was in early February, while pre-CNY spending in 2021 was mainly in February as CNY was in mid-February last year, according to a Department of Statistics (SingStat) release on Friday (Mar 4).
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
Social cohesion, long-term planning, political stability are imperatives for Singapore: PM Lee
Singapore’s industrial harmony cannot be taken for granted: Ng Chee Meng
Singapore’s employment growth eases in Q1, as tighter foreign worker quotas kick in for construction firms
US-Singapore FTA marks 20 years: a bridge ‘at the right place, right time’
Daily Debrief: What Happened Today (Apr 30)
Biden’s ‘worker-centred trade policy’ involves building ‘tripartism’: US trade chief