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Discretionary spending wanes in December

Singapore

CAR sales once again lifted retail sales growth in December, masking broad-based weakness across the retail sector as discretionary spending waned.

Bolstered by a mammoth 62.5 per cent increase in motor vehicle sales, overall retail sales grew 2.9 per cent year-on-year, according to data released by the Department of Statistics (DOS) on Monday.

But excluding cars, retail sales would actually have dropped 3.6 per cent, as the overwhelming majority of segments posted year-on-year declines.

Both...

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