Singapore retail sales unexpectedly dip 0.7% in November, with mixed performance across industries

SINGAPORE’S retail sales unexpectedly shrank 0.7 per cent on year last November, reversing from the 2.4 per cent growth logged in October, based on Department of Statistics (SingStat) data released on Friday (Jan 3).

Performance was mixed across industries, with just half recording year-on-year growth.

Private-sector economists had predicted growth, with a median forecast of a 1.5 per cent expansion in a Bloomberg poll.