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Economy News

Singapore retail sales decline 3 pct in November 2018

Singapore's retail sales decreased 3 percent year-on-year in November 2018, compared to a 0.1-percent increase in October, the Department of Statistics of Singapore said on Friday.
The retail sales increased 0.2 percent month-on-month on a seasonally adjusted basis in November, compared to a 0.3-percent decrease in October.
The authority said excluding motor vehicles, retail sales of last November dropped 0.2 percent year-on-year but rose 1.4 percent month-on-month.
Singapore's total retail sales value in November 2018 was estimated at 3.8 billion Singapore dollars (about 2.81 billion U.S. dollars). The estimated proportion of online retail sales to total retail sales is 6.6 percent.
Meanwhile, the sales of food and beverage services increased 2.4 percent year-on-year and 1.7 percent month-on-month. The sales value was estimated at 845 million Singapore dollars (about 625.60 million U.S. dollars) in November.
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