Economists expect retail sales to return to positive growth by February

SINGAPORE'S retail sales could return to positive growth as early as the first quarter of this year, said economists encouraged by the slowing decline in November's data.

Overall takings at the till fell 1.9 per cent in November, a surprising improvement over October's 8.5 per cent contraction. The Department of Statistics (SingStat) on Tuesday attributed this to multiple mega sales events such as Singles' Day and Black Friday, as well as new mobile phone launches.

On a seasonally-adjusted basis, retail sales grew 7.3 per cent in November from the previous month.