Singapore Retail Sales Growth Eases In December

(RTTNews) - Singapore's retail sales growth moderated in December to the lowest level in three months, preliminary data from the Department of Statistics showed on Thursday.

Retail sales climbed 2.7 percent yearly in November, much slower than the 6.2 percent increase in November. Sales have been rising since March.

Sales of food and alcohol showed a notable fall of 7.1 percent, and sales at department stores dropped by 1.7 percent. Excluding motor vehicles, retail sales expanded by 1.7 percent.

Demand for recreational goods grew 13.4 percent from last year, and those of computer and telecommunications equipment advanced by 12.8 percent. Sales at supermarkets and hypermarkets rose 4.0 percent, while sales at petrol service stations fell sharply by 9.1 percent.

During November, the online sales proportion was 14.8 percent of the overall retail sales, lower than the 17.0 percent recorded a month ago.

The index for food and beverage services rose 0.7 percent year-over-year in December, following a 2.5 percent growth in the previous month.

On a monthly basis, retail sales fell at a faster pace of 5.4 percent versus a 0.2 percent decrease in November.