Singapore's retail sales up 6.5% in November on robust car sales
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Robust car sales boosted Singapore's retail sales in November, which rose 6.5 per cent year-on-year, according to the Department of Statistics on Thursday.
Excluding the sale of motor vehicles - which jumped a significant 50.2 per cent - retail sales would have decreased 0.4 per cent in November.
Total retail sales value in November was estimated at S$3.2 billion, higher than the S$3.0 billion in November 2013.
The double-digit surge in motor vehicle sales helped to offset poorer performances in areas such as furniture & household equipment (-6.8 per cent), recreational goods (-6 per cent), and petrol service stations (-5.7 per cent).
In contrast, retail sales of watches & jewellery, medical goods & toiletries, department stores, supermarkets, food & beverages, and mini-marts & convenience stores rose between 1.9 per cent and 3.9 per cent.
On a seasonally-adjusted basis, retail sales fell 0.7 per cent in November over the previous month.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
Excluding motor vehicles, retail sales would have declined 0.9 per cent month-on-month.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
