Singapore February retail sales slip 2.5%
SINGAPORE'S retail sales slipped slightly by 2.5 per cent in February 2017 compared to a year ago.
Excluding motor vehicle, retails sales fell by 4.9 per cent, based on the latest data released by the Department of Statistics Singapore on Wednesday.
Double-digit declines were seen in food and beverages (-17.4 per cent), supermarkets (-15.4 per cent), department stores (-15 per cent) as well as wearing apparel and footwear (-12.5 per cent).
Petrol service stations registered an increase of 14.6 per cent, while motor vehicles rose 9.4 per cent.
Compared to the previous month, retail sales in February 2017 rose a seasonally-adjusted 2.3 per cent. Excluding motor vehicles, retail sales increased 0.4 per cent.
The total retail sales value stood at an estimated S$3.3 billion, similar to a year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
Singapore’s inflation eases more than expected in March, with headline inflation at 2.5-year low
8 in 10 firms in S-E Asia, Greater China positive about business environment: UOB survey
Flexi-work request guidelines not meant to prescribe blanket outcomes for employers or influence hiring of workforce: SNEF
Daily Debrief: What Happened Today (Apr 23)
Daily Debrief: What Happened Today (Apr 24)
Daily Debrief: What Happened Today (Apr 22)